On January 1, 2019, Marites Company issue its P10,000,000 face amount, 10% bonds to yield 8% per year. The bonds mature on January 1, 2024 and pay interest semiannually on June 30 and December 31. The relevant present value factors are as follows:

Present value of 1 at 4% for 10 periods	0.6756
Present value for an ordinary annuity at 4% for 10 periods	8.11
Present value of 1 at 5% for 10 periods	0.6139
Present value of for an ordinary annuity at 5% for 10 periods	7.72

The carrying amount of this bond liability (round to the nearest thousand) on January 1, 2019 is

Group of answer choices

10,721,000

11,148,000

10,811,000

9,753,000