On January 1, 2019. Romel Delosa Corporation purchased a 4-year P8.000.000, 10% bonds dated December 31, 2018. Interest is payable annually every December 31. Romel Delosa Corporation designated the bonds at fair value through other comprehensive income. The issuer paid the interest as scheduled in 2019. During 2020, the issuer of the bonds is in financial difficulties and it becomes probable that the issuer will be put into administration by a receiver. On December 31, 2020, Romel Delosa estimated that none of the interest will be collected and only P6,000,000 of the principal will be collected on maturity date. No cash flows were received during 2021. At the end of 2021, the issuer is released from administration and Romel Delosa received a letter from the receiver stating that the issuer will be able to meet its remaining obligations on maturity, including interest and repayment of principal The table below provides information regarding the prevailing market interest rate Date January 1. 2019 December 31, 2019 December 31 2020 Rate 12% 13% 14% 11% December 31 2021 Eases on the above information determine the carrying amount of the investment in coods on December 31 2019 Round off present value factors to four decimal places OPT 615.500 CP7 433 760 PT 205 909 PRASE 650