ABC Corporation declared 15% bonus issue to its ordinary shareholders on December 31,2021. As of this date, the corporation have a balance in their ordinary share capital account of P 5,000,000 with par value of P 50. There are 5,000 ordinary shares were reacquired as of December 31,2021. .Assuming the current market value of the share at the date of declaration is P 52, How much is charged to Retained Earnings?

a. 750,000

b. 741,000

c. 712,500

d. 780,000