On Januray 1, 2011, ABC Co sold transportation equipment with a historical cost of P20,000,000 and accumulated depreciation of P7,000,000 in exchange for cash of P500,000 and a non-interest-bearing note receivable of P8,000,000 due in 4 equal annual Installments starting on December 31, 2011 and for this type of note is 12%. Use 5 decimal In PV factor. When preparing for amortization table. round off to the nearest whole number. How much is the Interest Income in 2011? your