tulip corporation has a delinquent subscription for 4,700 shares of its P20 par value shares capital. the delinquent subscriptions were originally subscribed at par. at the date of subscription, 48% payment has already been made. the delinquent subscription is to be sold at public auction. expenses incurred for the auction amounts to P9,300. the following are the bidders in the public auction:

-Teddy 2,100

-Wiliam 2,300

- herrera 1,500

How much should the highest bidder pay for his bid?

a. 54,420

b. 58,180

c. 45,120

d. 48,880