The ERQ Corporation on November 1 had its Articles of Incorporation approved by the Philippine SEC. It authorized the company to issue 750,000 ordinary shares with P50 par value. On that date, five incorporators subscribed to 262,500 shares at par as follows:

Incorporators Name	No. of Shares Subscribed	Down payment
Andy	45,000	P600,000
Mar	60,000	750,000
Vin	45,000	525,000
Rein	75,000	900,000
Josh	37,500	450,000

Based on the above information, which of the following is incorrect?

Choose the correct answer:

a. The total amount of paid-in capital should be at least P3,281,250

b. The incorporators total subscription amounted to P13,125,000 which is more than 25% of the total amount of share capital

c. The company is compliant with SECs requirements because the amount that should be paid by incorporators above is P2,343,750

d. The company violates the minimum pre-incorporation subscription requirement