ABC Co. is a production company specialized in making edible wood. In order to do this, they have Internally built a piece of equipment designed to produce a compound that would take out any inedible component of the coconut wood. Moreover, ABC Co has the following data from their books as of December 31, 2020:

Total Current Assets P 500,000

Total Non-Current Assets 2,500,000

Total Liabilities 800,000

In order to internally remanufacture the equipment, the company has estimated that it will have to purchase P 900,000 worth of raw materials, and another P 470,000 for the labor and overhead. As of December 31, 2020, the equipment is valued at P1,500,000. Furthermore, it is also estimated that other Non-Current Assets are 80% value of the book value when reproduced.

As of December 31, 2020, it is recorded that ABC Co has 20,000 Outstanding shares.

Required:

1. What is the reproduction cost of the specialized equipment of ABC Co. as of December 31, 2020?
2. What is the total amount of ABC Co.'s Assets when adjusted to its reproduction value?
3. What is the value of ABC Co.?