Please provide solution

On January 1, 2020, hehe Company purchased 50,000 ordinary shares for P4,320,000 to be classified as non-trading. During 2020, the entity received 50,000 stock rights. Each right entitled the holder to acquire one share for P102. The market price of share was P120 immediately before the rights were issued and P108 immediately after the rights were issued. The entity ultimately sold all the stock rights for P18 per right. What is the gain on sale of rights? a. P900,000 c. P300,000 b. P120,000 d. P600,000