As of December 31, 2021, Halaga Corporation reported the following items in its balance sheet:  Cash- P520,000  Receivables- P240,000  Inventory- P350,000  Equipment- P850,000  Accounts payable- P325,650  Short-term notes payable- P524,500  Long-term debt- P1,049,850  Weighted average of outstanding shares in 2021- P250,000  Halaga Corporation contracted a third-party appraiser which has determined that the replacement value of its assets. This resulted to P14.22 calculation as

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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As of December 31, 2021, Halaga Corporation reported the following items in its balance sheet
Cash- P520,000 
Receivables- P240,000 
Inventory- P350,000 
Equipment- P850,000 
Accounts payable- P325,650 
Short-term notes payable- P524,500 
Long-term debt- P1,049,850 
Weighted average of outstanding shares in 2021- P250,000 

Halaga Corporation contracted a third-party appraiser which has determined that the replacement value of its assets. This resulted to P14.22 calculation as its replacement value per share of the company.

Based on the report of the appraiser, the property and plant have replacement cost of 125% of its reported value. On the other hand, the equipment only commands replacement cost of 70% of its value. According to the appraiser, the equipment was designed using an old technology, thus, the lower replacement cost. Other assets and liabilities are valued fairly.

How much is the book value per share of Halaga Corporation as of December 31, 2021?  

a. Php 0.24
b. Php 14.22
c. Php15.84
d. Php12.24
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