Use PAS 38 as the basis for your answer.

As part of your engagement to audit the financial statements of the NCPAR Company, you found the following Intangible asset account: Additional information: - The amount debited to the intangible asset account on January 1, 2019 represents the purchase price of the trademark from unrelated company. Other related costs incurred which was charged to expense include the following: Selling cost incurred for the product it manufactured under the trademark Costs of employee benefits arising directly from bringing the asset to its intended condition P 25,000 Professional fees arising directly from bringing the asset to its intended condition 60,000 13,000 Costs of introducing the new product including advertisement costs 9,000 The trademark can be renewed indefinitely. - The amount debited to the intangible asset account on January 1, 2020 represents the purchase price of a customer list acquired from a well. known distributor of books for P300,000. NCPAR expects to benefit from the information evenly over a 5 -year period. - The amount debited to the intangible asset account on January 1, 2021 represents the purchase price of a franchise from Rex Co. NCPAR Co. paid P400,000 and issued a P600,000 note payable on December 31, 2024. Interest implicit on the note is 12%. The franchise gives NCPAR the right to sell Rex's products until December 31, 2025, and is renewable for additional 5 years. In January 2021, NCPAR Co. started operating the franchise. Annual periodic franchise fee for 2021 is P100,000. As of December 31, 2021, no decision as to renewal has been made by the company. - No amortization has yet been recognized by the company. Questions: Based on the above data, compute for the following (round off present value factors in four decimal places): 1. Cost of the Intangible asset on January 1, 2019 a. P600,000 b. P625,000 c. 673,000 d. P707,000 2. Amortization 2019 a. None b. 31,250 c. P33,650 d. 35,350 3. Amortization 2020 a. None b. P60,000 c. P91,250 d. P93,650 4. Amortization 2021 a. P225,416 c. P256,666 b. P335,693 d. P369,343 5. Carrying value of the Intangible assets, 12/31/2021 a. P1,514,664 c. P1,518,434 b. P1,473,057 d. P1,508,657