MN Company introduced a new product that carried a 2-year warranty against defects. The estimated warranty cost related to sales is 2% in the year of sale and 4% in the year after sale. Sales are P2,000,000 for 2021 and P3,000,000 for 2022. Actual warranty expenditures are P80,000 for 2021 and P150,000 for 2022. What amount should be reported as estimated warranty liability on December 31, 2022? 30.000