On January 1, 2021, the Swiss Company purchased 20,000 ordinary shares at P100 per share to be classified as nontrading through other comprehensive income. On September 30, 2021, the entity received 6,000 shares rights to purchase one (1) new share at a cost per share of P60 for every three (3) share rights. The share rights had an expiration date of February 1, 2022. On September 30, 2021, each share had a market value of P150 and the share rights had a market value of P20. How much is the cost/purchase price of the new shares that are acquired by exercising all the rights on September 30, 2021?
On January 1, 2021, the Swiss Company purchased 20,000 ordinary shares at P100 per share to be classified as nontrading through other comprehensive income. On September 30, 2021, the entity received 6,000 shares rights to purchase one (1) new share at a cost per share of P60 for every three (3) share rights. The share rights had an expiration date of February 1, 2022. On September 30, 2021, each share had a market value of P150 and the share rights had a market value of P20. How much is the cost/purchase price of the new shares that are acquired by exercising all the rights on September 30, 2021?
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