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Find the carrying amount of this leasehold improvement

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Question - On January 1, 2023, Can Company signed a 12-year lease for a building. Can has an option to renew the lease for an additional 8-year period on or before January 1, 2027. During January 2025, Can made substantial improvements to the building. The cost of the improvements was P3,600,000, with an estimated useful life of 15 years. At December 31, 2025, Can intended to exercise the renewal option. Can has taken a full year's amortization on this improvement. In the December 31, 2025 statement of financial position, find the carrying amount of this leasehold improvement?

P3,300,000

P3,240,000

P3,360,000

P3,400,000

Reference no: EM132794506

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