PIOLO, Inc. proposes to increase its sales volume and realize bigger profits. Previous year, the company sold 22,000 units of Product 101-A for P11 per unit. The profits were modest because of the small difference between the selling price and the variable cost per unit and the relatively low sales volume. The fixed cost is equal to P20,000 per annum. The cost per unit is P10. The company feels that by reducing the selling price to P10.80, the sales can be increased to 27,000 units a year and thereby increase, too, its profits. How much profit before tax did PIOLO, Inc. earn in the previous year?