Tan Company has a branch in Singapore. On December 31, 2009, the Singapore branch reported the following expenses stated in Singapore dollar: $ 6,000 Bad Debts Expense Amortization of Patent (patent was acquired on January 1, 2005) Rent Expense 4,000 10,000 The exchange rates for Singapore dollar at various dates were as follows: January 1, 2005 P20.00 December 31, 2009 26.35 Average rate for year ended December 31, 2009 28.20 What is the Philippine peso amount to be included in the translated statement of comprehensive income of the Singapore branch for the year ended December 31, 2009 for the foregoing expense? O P564,000 OP531,200 O P400,000 O P527,000