On January 1,2019, an entity granted to a senior officer the right to choose either - 10,000, P 25 par ordinary shares or - cash payment equal to 7,500 shares of P 25 par ordinary shares The grant is conditional upon the completion of three years of service. If the senior officer chooses the share alternative, the shares must be held for three years after the vesting date. On January 1,2019, the price per ordinary share is P 50. The ordinary share prices for the three- year vesting period are:

December 31,2019- P 52 December 31,2020- P 57

December 31,2021- P 61

After taking into account the effects of post vesting restrictions, the entity had estimated that the fair value of the share alternative is P 48 per share. What is the compensation expense for 2019 relating to the cash alternative?