On October 31 , 20x4 , Mr . Cruz bought property from D'Vision Heights which had earlier cost the latter P250,000 . The company received a down payment of P100.000 and a P400,000 mortgage note payable in twenty equal semiannual installments plus 16 % interest per annum on unpaid principal . Assuming the gross profit is recognized in the period of sole of gross profit to be recognized by D'Vision Heights in 20x6 would be :

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