On January 1, 2020, Mathis Company purchased ten-year bonds with a face value of P6,000,000 and a stated interest rate of 8% per year payable semiannually June 30 and December 31. The bonds were acquired to yield 10%. Present value factors are as follows:

Present value of 1 for 10 periods at 10%	0.386
Present value of 1 for 20 periods at 5%	0.377
Present value of an annuity of 1 for 10 periods at 10%	6.145
Present value of an annuity of 1 for 20 periods at 5%	12.462

What is the market price of the investment?