ABC Corporation is Company distributing various products, employing about 1,750 employees in the Philippines. After the first quarter, the Management saw that the profits were over and above the target and there were enough funds to give something to performing employees. The President suggested an iWatch worth P15,600 from the Apple Store to all rank and file employees. If you were the accountant, what is the grossed-up monetary value of the fringe benefit? O GUMV at P24.000/FBT at P8,400 O Not subject to Fringe Benefit Taxes O GUMV at P18,353/FBT at P2.753 O GUMV at P20,800/FBT at P5,200