Rosario Company has granted share options to employees with fair value of P3,000,000 The options vest in three years. The Monte Carlo was used to value the options.

On January 1, 2017, which is the date of grants, the estimate of employees leaving the entity during the vesting period is 5%. On December 31, 2018, the estimate of employees leaving before vesting period is 6%.

On December 31, 2019, only 5% of the employees actually left the entity and on such date a total of 50,000 shares were issued as a result of exercise of share options. The shares have a P100 par value and option price of P130.

What is the compensation expense for 2019? What is the share premium to be recognized as a result of the exercise of the share options?