16: On July 1, 2015, Cleopatra Corporation acquired 25% of the shares of Marcus, Inc. for P1,000,000. At that date, the equity of Marcus was P4,000,000, with all the identifiable assets and liabilities being measured at amounts equal to fair value. The table below shows the profits and losses made by Marcus during 2015 to 2019: Year Profit (Loss) 2015 P 200,000 2016 (2,000,000) 2017 (2,500,000) 2018 160,000 2019 300,000 What is the carrying amount of the investment in Marcus, Inc. as of December 31, 2019?

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