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How much is the total amount reported in nct company profit

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On October 1, 2021, NCT Company purchased a P2,000,000 face value 10% debt instrument paying a total of P1,977,800 and classified this as investment at fair value through profit or loss. The effective rate for this type of investment is 12%. The debt instrument pays interest semi-annually on June 1 and December 1. On December 31, 2021, the fair market value of the instruments is 97.

Problem 1: How much is the total amount reported in NCT Company's profit or loss in 2021?

Reference no: EM132996101

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