On July 1, Year 2, San Benon Company purchased 4,000 of the P1,000 face amount, 8% bonds of Oat Corp. for 3,692,000 to yield a 10% per annum. The bonds, which mature on July 1, Year 5, pay interest semiannually on January 1 and July 1. San Benon classifies the securities as at amortized cost. What is the investment carrying value at December 31, Year 2?

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