On January 1, 2019, Jade Company provided a loan to BC Corp amounting to P1,000,000 and received a two-year, 12%, P1,000,000 note. The note calls for annual interest to be paid every December 31. Jade collected the interest on December 31, 2019 as scheduled. The company incurred origination cost amounting to P57,851, 40% of which had been charged to BC Corp. The yield rate on the loan with this arrangement was at 10%.

On December 31, 2020, however, based on BC Corp recent financial problems, Jade expects to collect only P900,000 of the amounts due.

The P900,000 principal amount is expected to be collected in four equal annual installments starting December 31, 2022.

Jade believes that 8% is the market's assessment of the time value of money as of December 31, 2020.

How much is the impairment loss should Jade Company recognized on its 2020 statement of comprehensive income