On January 1,2019, ENTITY A granted to its eight executives the right to choose either 10,000 ordinary shares or to receive cash payment equal to 8,000 shares. The grant is conditional upon completion of two years of service. The entity estimates that the value of the share alternative at the date of grant is P75 per share. Par value per share is P60. The executives exercised their rights on June 30,2021 when the market price of each share is P73.

The entity estimates the fair values of the SARs at the end of each year as follows:

January 1, 2019: P75

December 31, 2019: P72

December 31, 2020: P70December 31, 2021: P75

1) How much is the value of the share options on December 31, 2020?

2) How much is to be credited to Share premium-share options on June 30,2021?

3) Assuming the executives chose the cash settlement, how much is the amount of cash paid?