On January 1, 2015, Lion Corporation issued a P3,000,000 6% convertible bonds at par. The bonds mature in five years and interest is payable every December 31. The bonds may be converted into ordinary shares on the basis of 50 shares for each P1,000 bonds. The par value of each share is P15. The interest rate for an equivalent bond without the conversion rights would have been 10%. How much is the total credit to equity upon conversion assuming the bonds were converted on December 31, 2018? (PVF 4 Decimal)