3. On January 1,2009, Bridge company purchased 25,000 shares of the 100,000 outstanding shares of river company for a total of P1,000,000. At the time of purchase, the book value of river company equity was P3,000,000. River company assets having a fair value greater than book value at the time of the acquisition were as follows: Book value Fair value Remaining life Inventory 400,000 500,000 Less than1 year (all inventories were sold) Equipment 2,000,000 2,500,000 5 years Goodwill none 400,000 indefinite River company's net income in 2009 was P700,000. Dividends per share paid by River company amounted to P3 in 2009. What is the carrying amount of Bridge company's investment in River company on December 31,2009? a. P1,050,000 b. P1,000,000 c. P1,075,000 d. P1, 100,000