On January 1, 2019, HULA Co. provided these data concerning its defined benefit plan: Fair value of plan assets P9,500,000 Defined benefit obligation 12,000,000 Prepaid/accrued benefit cost - credit P2,500,000 The transactions for 2019 are as follows: Current service cost P1,800,000 Actual return on plan assets 1,100,000 Contribution to the plan 2,700,000 Benefits paid to retirees 2,000,000 Increase in defined benefit plan due to change in actuarial assumptions 150,000 Present value of defined benefit obligation settled 600,000 Settlement price of defined benefit obligation 800,000 Discount rate 10% How much is the Prepaid/accrued benefit cost on December 31, 2019