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Sexy Corporation issued 15, 000 shares of its P 100 par ordinary shares in acquiring a land that has a fair value of P 1,

Sexy Corporation issued 15, 000 shares of its P 100 par ordinary shares in acquiring a land that has a fair value of P 1, 700, 000. The land has original cost of P 1, 250, 000. The ordinary share is actively selling at P 120/sh. What is the amount of share premium to be credited on the issuance of shares?

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