On January 1, 20x1, AprilBank extended a 12%, 4-year, P5,000,000 loan to XYZ, Inc. AprilBank incurred direct origination costs of P364,098. AprilBank charged XYZ, Inc. 6% service charge. The effective interest rate on the loan is 13%. On December 31, 20x2, AprilBank assesses that the loan is credit-impaired. Interest accruing for December 31, 20x2 has not been collected. Therefor, AprilBank expects that future interests will not be collected. AprilBank makes the ff. cash flow projections from the borrower. December 31, 20x3: P1,500,000 December 31, 20x4: 1,500,000 December 31, 20x5: 2,000,000 The current prevailing interest rate is 12%. What is the carrying amount of the loan on December 31, 20x2 that should be used in computing for impairment loss? O a. 5,019,069 O b. 5,516,595 O c. 4,916,595 O d. 5,619,069