Red Corporation would like to acquire Pink Inc. but the owners of Pink would like it to be purchased at P8,000,000. Both groups agree that the intrinsic value of the equity of the firm is P7,500,000.As the financial advisor to Red, you met with its managerial group and determined that upon the acquisition, you can lower cash operating costs by P300,000 per year. The weighted average cost of capital of both firms is 15% and you expect no changes to this. The applicable tax rate is 25%. How much is the value of control and synergy to be obtained by Red from the possible acquisition?