During his lifetime, Miguel donated and transferred the ownership of a real property to his eldest son. For taxation purposes, the property value is P2,000,000. When Miguel died, he left properties...

During his lifetime, Miguel donated and transferred the ownership of a real property to his eldest son. For taxation purposes, the property value is P2,000,000. When Miguel died, he left properties and rights totaling P24,000,000. One of the property is subject to an unpaid mortgage of P3,000,000. The estate tax amounted to 100,000. How much is the amount of estate to be distributed to the heirs (distributable or hereditary estate

P26,000,000

P24,000,000

P22,900,000

P20,900,000