Grand Company has 60,000 ordinary shares of Brand Corporation as an investment in equity

securities through other comprehensive income. These shares were acquired at fair value, which

was P80 per share on May 2, 2019 plus transaction costs of 2% of the fair value. On December

31, 2019, the market value of these shares is P90 per share. Grand Company sold 42,000 shares

of its investment in Brand Corporation on February 15, 2019 for P85 per share less 2.5%

transaction costs on the selling price. What amount of realized gain or loss should Grand

Company recognize in selling these shares?