MY UNIVERSE Co. owns 15,000 shares out of the 100,000 outstanding shares of DYNAMITE, Inc. As of year-end, MY UNIVERSE holds 20,000 stock rights which enable MY UNIVERSE to acquire additional shares from DYNAMITE on a "2 rights for 1 share" basis. The stock rights are exercisable Immediately. However, MY UNIVERSE Co.'s management does not intend to exercise the stock rights. DYNAMITE does not have any other stock rights outstanding aside from those held by MY UNIVERSE. DYNAMITE reports year-end profit of P4,000,000 and declares cash dividends of P400,000. The Investment has a carrying amount of P1,200,000 before any year-end adjustment. At what amount should the Investment be reported in MY UNIVERSE Co.'s year-end financial statements? * Nour