Sweety Corporation sold 4,000 ordinary shares with a par value of P 100 per share to a subscriber for P 105 per share receiving an initial payment of 30% of the subscription price. After repeated demands for the subscriber to pay the remaining balance but to no avail, the corporation was forced to sell the delinquent shares at a public auction, incurring advertising costs of P 24,000.

10. What should be the minimum bid price for the delinquent shares?

a. P 280,000. b. P 294,000. c. P 304,000. d. P 318,000.