Dole Corp. uses the equity method in accounting for its 30% interest in Del Monte, Inc. The profit reported by Del Monte, Inc. for the period is P5,000,000. Del Monte, Inc has outstanding 5% cumulative preference shares with an aggregate par value of P8,000,00. No dividends were declared by Del Monte, Inc. on the preference shares in the last three years, including the current year. How much is Dole Corp’s share in the profit of Del Monte, Inc.?

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