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Sipi-ey granted 200 share appreciation rights to each of the 400 employees on January 1, 2019 with a pre- determined price of P140 per share.

Sipi-ey granted 200 share appreciation rights to each of the 400 employees on January 1, 2019 with a pre- determined price of P140 per share. The awards vest on December 31, 2020 when the share price was P200. In December 2020, the share price was P180. The journal entry on December 31, 2020 will include a

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