1. Leth Company is currently undergoing liquidation proceedings and is consulting with potential buyers about the amount it can recover from the sale of its assets with book value of P7,000,000. Based on the quotations, the assets can fetch price of P6,000,000 if it will be sold within one year as negotiations and bidding will allow interested buyers to compete for the purchase. An interested buyer is willing to pay for P4,000,000 to purchase the assets now. Leth Company has liabilities to settle amounting to P2,000,000. How much is the orderly liquidation value of Leth Company?

2. A firm's common stock currently sells for Php 75 per share. The firm has total assets of Php 1,000,000 and total liabilities, including preferred stock, of Php 350,000. If the firm has 10,000 shares of common stock outstanding, how much is the liquidation value per share is this approximates book value?