On June 1, 2016, ABC Corporation purchased as a long-term investment 4,000 of the P1,000 face value, 8% bonds of DEF Corporation for P3,645,328. Interest is payable semiannually on December 1 and June 1. The bonds mature on June 1, 2022. On November 1, 2017, ABC sold the bonds for a total consideration of P3,925,000. ABC intended to hold these bonds until they matured.

The interest income for the year 2016 is

A. P211,612

B. P215,521

C. P212,829

D. P218,850

E. Answer not given

The interest income for the year 2017 is

A. P304,748

B. P310,715

C. P311,218

D. P306,608

E. Answer not given

The gain on sale of investment in bonds on November 1, 2017 is

A. P104,045

B. P27,632

C. P21,195

D. P80,235

E. Answer not given