At the beginning of the current year, Angula Company, a Closely-held entity, issued 6% bonds with a maturity value of P6,000,000, together with 10,000 ordinary shares of P50 par value, for a combined cash amount of P11,000,000. If the bonds were issued separately, they would have sold for P4,000,000 on an 8% yield to maturity basis. What amount should be reported for share premium on the issuance of the ordinary shares