On March 3, 2019, Star Lord, Inc. has signed an agreement allowing Drax to sell the former's products under its trade name. The contract called for P500,000 down and a 10% note for P1,500,000 balance, payable in five annual payments. The franchisor has completed all the initial services required and the outlet has started operations early in December. However, it was noted that the franchisor had the right to redeem the franchise and it was reasonably certain to happen. a. 0 b. 500,000 c. 1,500,500 d. 2,000,000