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On October 1, 2020, Chantilly Company purchased P3,000,000 face value 12% bonds for 99 plus accrued interest and transaction cost and classified them as financial

On October 1, 2020, Chantilly Company purchased P3,000,000 face value 12% bonds for 99 plus accrued interest and transaction cost and classified them as financial assets at amortized cost. Interest is paid semiannually on January 1 and July 1. Transaction cost was P80,000.

How much is the initial measurement of the bond investment?

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