On July 1, 2018, HI Co.
acquired investments in bonds
of RAP Co.'s 10-year 12%
bonds, with face value of
P5,000,000, for P5,386,300.
Interest is payable semi-
annually on January 1 and July
1. The bonds mature on July 1,
2023. Bonds effective rate is
10%. On December 31, 2020,
HI Corporation sold its debt
instrument at 110. What
amount of gain should HI
Corporation recognize as a
result of the disposal? *
P144,385
P176,604
P210,434
P245,956
P283, 254
2 points