On September 1, 2023, BLUEGRASS Company borrowed funds from the general public by issuing 4,000 of its P1,000 face amount bonds at their quoted clean price of 93.60. In addition, bond issue costs incurred amounted to P108,000, Interest of 12% is payable every June 30 and December 31 of each year until December 31 , 2028 , the bonds' maturity date. Net amount received from the bond issuance amounted to a. P3,716,000 c. P3,956,000 b. P3,636,000 d. P3,984,000 Interest expense during the year 2024 shall be a. P411,750 b. P548,250 c. P432,000 d. P528,000 Carrying amount of the bonds payable as of December 31,2024 shall be a. P3,987,000 b. P3,682,250 c. P3,727,000 d. P3,658,750