Transactions during 2025 of the newly organized Han Corporation included t. following: Jan. 2 15 Apr. 1 May 1 July 1 Dec. 31 Paid legal fees of P150,000 and stock certicate costs of P83,000 to complete organization of the corporation. Hired a clown to stand in front of the corporate ofce for 2 weeks and hand out pamphlets and candy to create goodwill for the new enterprise. Clown cost, P10,000; pamphlets and candy, P5,000. Patented a newly developed process with costs as follows: Legal fees to obtain patent P 429,000 Patent application and licensing fees 63,500 Total P 492,500 It is estimated that in 6 years other companies will have developed improved processes, making the Han Corporation process obsolete. Acquired both a license to use a special type of container and a distinctive trademark to be printed on the container in exchange for 6,000 shares of Han's no-par ordinary shares selling for P50 per share. The license is worth twice as much as the trademark, both of which may be used for 6 years. Constructed a shed for P1,310,000 to house prototypes of experimental models to be developed in future research projects. Incurred salaries for an engineer and chemist involved in product development totaling P1,750,000 in 2025. Based on the above, determine the following as of December 31, 2025: Cost of licenses