On January 1, 2019, Apollo Corporation purchased 4-year P8,000,000, 10% bonds at face value. The entity paid P80,000 commission. Interest is payable annually every December 31. The bonds mature on...

Extracted text: On January 1, 2019, Apollo Corporation purchased 4-year P8,000,000, 10% bonds at face value. The entity paid P80,000 commission. Interest is payable annually every December 31. The bonds mature on December 31, 2022. The entity designated the bonds as FA at FVPL. The investment was sold on December 31, 2021 at fair value. The table below provides information regarding the prevailing market interest rate Date Rate 12-31-19 11% 12-31-20 12-31-21 12% 9% Based on the above and the result of the audit, determine the following: (Round off present value factors to four decimal places) Gain on sale of the investment on December 31, 2021