17. Caramel Company showed the following balances in its balance sheet as at year-end: Current Assets Non-current Assets Current Liabilities Non-current Liabilities Weighted average of outstanding shares Php 450,000 1,150,000 300,000 900,000 120,000 shares According to the appraisal, 60% of the non-current assets can be replaced at 150% of their reported book value while the remaining balance of the non-current assets has replacement value of 65%. Reported balance of other items approximates their replacement value. end? How much is the replacement value of Caramel Company at year- a. Php584,000 b. Php400,000 c. Php1,784,000 d. Php1,600,000