On January 1, 2019, Greg Company purchased 25% of Georel Company. No "excess" resulted from the purchase. Greg Company appropriately carried this investment at equity and the carrying amount of the investment was P1,900,000 on December 31, 2019. Georel Company reported net income of P1,200,000 for the current year end and paid cash dividend of P480,000 on December 31, 2019. What amount did Greg Company pay for the 25% interest in Georel Company