On July 1, 2020, Honesty Company exchanged 12,000 shares of its ordinary shares P10 par value held in treasury for a copyright owned by Integrity Company. The treasury shares were acquired in 2018 at a cost of P240,000. At the exchange date, Honesty's ordinary shares were quoted at P26 per share, and the copyright had a net carrying value of P270,000 in Integrity's books.How much should Honesty record the copyright?Required to answer. Single choice.