Use the following information for the next three questions: On January 1, 2021, BLANTANT NOISY Co. acquired transportation equipment by paying cash of P400,000 and issuing a non-interest-bearing note payable of P4,000,000 due on January 1, 2024. There is no cash price equivalent for the equipment. The prevailing rate of interest for this type of note is 12%. 49. How much is the carrying amount of the note on initial recognition? a. 2,847,120 b. 2,000,000 c. 3,247,120 d. 2,786,309 50. How much is the interest expense in 2021? a. 341,656 b. 389,654 c. 334,357 d. 480,000 51. How much is the carrying amount of the note on December 31, 2021? a. 3,250,780 b. 3,179,830 c. 3,188,776 d. 2,505,464