Thomas bought a residential house and lot from BDC Realty for P250,000.00 giving a down payment of P10,000.00 and promising to pay the balance of P240,000.00 in 20 years in monthly installments of P1,000.00. After paying 72 installments, Thomas defaulted in the payment of the 73rd installment and subsequent ones. Despite the grace period he had earned, he was not able to make any further payments. Accordingly, BDC Realty cancelled the sale. How much cash surrender value is Thomas entitled to receive?

a. P45,100.00

b. P41,000.00

c. P39,600.00

d. P36,000.00