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1. On January 1, 2017, LMD COMPANY acquired an equipment for P8,000,000. The equipment is depreciated using straight line method based on a useful life of 8 years with no residual value. On January 1, 2020, after 3 years, the equipment was revalued at a replacement cost of P 12,000,000 with no change in the useful life. The pretax accounting income before depreciation for 2020 is P10,000,000. The income tax rate is 30% and there are no other temporary differences at the beginning of the year. What is the deferred tax liability on January 1, 2020 arising from revaluation? A. P1,200,000 B. P750,000 C. PO D. P450,000 2. The following facts relate to the Lily Co. postretirement benefits plan for 2021: 0 Service cost- P136,000 0 Discount rate 9% o Postemployment benefit obligation, January 1, 2021 P1,200,000 0 Benefit payments to employees- P92,000 The amount of postretirement expense for 2021 is A. P136,000. B. P336,000. C. P244,000. D. P280,000. 3. On January 1, 2020, LIME Corporation granted share options to its employees with a fair value of P4,500,000. The options vest in three years and are exercisable starting January 1, 2023 until Dec. 31, 2023. On December 31, 2020, it was estimated that 5% of the employees will leave the Company. This estimate was revised to 6% during the year 2021. On December 31, 2022, it was determined that 80% of the employees remained in the company. What is the amount charged to compensation expense in 2022? A. P1,425,000 B. P1,395,000 C. P1,500,000 D. P780,000