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On March 4, 2020, Dale Co. purchased 1,000 ordinary shares of LCD at P80 per share. On September 26, 2020, Dale received 1,000 stock rights

On March 4, 2020, Dale Co. purchased 1,000 ordinary shares of LCD at P80 per share. On September 26, 2020, Dale received 1,000 stock rights to purchase an additional 1,000 shares at P90 per share. The stock rights had an expiration date of February 1, 2021 On September 30, 2020, LCDs ordinary share had a market value ex-rights of P95 each and the stock rights had a market value of P5 each. What amount should Dale report on its September 30, 2020 balance sheet as the cost of the investment in stock rights?

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