Question: What is carrying amount of the investment in associate on December 31, 2020?

Multiple choice:

a. 5,900,000

b. 5,300,000

c. 5,400,000

d. 5,800,00

6. On July 1, 2020. GREEN Company acquired 20% of the outstanding ordinary shares of another entity for 95,000,000. The carrying amount of the acquired shares was 194,000,000. The excess of cost over the carrying amount was attributable to an identifiable intangible asset which was undervalued on the investee's statement of financial position and which had a remaining useful life of 5 years. The investee reported net income of P55000000 for 2020 and paid cash dividends of $1,000,000 on ordinary shares and issued 10% stock dividend on December 31. 2020. What is the carrying amount of the investment in associate on December 31, 2020? *