In 2014, ARUTRO COMPANY purchased property with natural resources for P28,000,000. The property had a residual value of P5,000,000. However, the entity is required to restore the property to the original condition at discounted amount of P2,000,000. In 2014, the entity spent P1,000,000 in development costs and P3,000,000 in building. In 2015, the amount of P4,000,000 was spent for additional development on the mine. Production began in 2015 and tons extracted totaled 3,000,000 in 2015 and 2,500,000 in 2016. The remaining tons totaled 7,000,000 and 3,500,000, respectively on December 31, 2015 and December 31, 2016. What amount of depletion should be recognized in 2016