Little Co. acquired land and building by issuing 60,000 P100 par value, ordinary shares. On the date of acquisition, the shares had a fair value of P180 per share and the land and building had fair values of P2,500,000 and P6,000,000, respectively.

During the year, Little Co. also received land from a shareholder to facilitate the construction of a plant in the city. Little Co. paid P100,000 for the land transfer. The appraised value of the land is P1,800,000.

As a result of these acquisitions, Little Co. should record total increase in its property, plant, and equipment by how much?

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