(Amortization/depletion) In January 2014, Taken Corporation paid the national government a fee in the amount of P129,000,000 for an area of interest with removable ore estimated by geological surveys at 4,320,000 tons. Taken Company is required by the national government to restore the specific area of interest after the extraction of the estimated units of reserves. On January 1, 2014 the present value of restoration costs discounted at 10% based on the expected 10 years the mineral reserves are extracted, is P3,850,000. The company incurred P2,150,000 of development costs in preparing the property for the extraction of ore. During 2014, 540,000 tons were removed. For the year ended December 31, 2014, how much amount of amortization should the company recognize?

(Exploration and evaluation assets) Listen Company is a mining company, which acquires a drilling rig to be used for drilling of core samples for the purpose of analysis as part of its E&E activities in a new area (Area F) it has recently acquired the rights to explore. The following transactions occurred during 2011-2012. On July 1, 2011, the company acquired the rig at a cost of P2,800,000 and capitalized as a tangible E&E asset with an estimated useful life of 14 years. The drilling rig is used solely for the purposes of drilling core samples in Area F, as expected. Listen Company's financial year ends every June 30. what is the carrying value of the Equipment (drilling rig) as of June 30, 2012?