On February 14, 2014 DAVION Co. issued 30,000 shares of its P100 par value ordinary shares and 20,000 shares of its P50 par value preference shares for a total amount of P4,500,000. As of February 14, DAVIONs ordinary shares were trading at P140 while its preference shares were selling at P90 per share.

At what amount would the Share Premium-Preference account would increase as a result of the transaction?

Group of answer choices

350,000

125,000

800,000

1,000,000