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Find what dart gain from the sale of right is

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Problem 1: On January 3, 2018, Dart Co. purchased 500 shares of Mina Corp. ordinary shares for P36,000. On December 2, 2019, Dart received 500 stock rights from Mina. Each right entitles the holder to acquire one share of stock for P85. The market price of Mina's stock was P100 a share immediately before the right were issued, and P90 a share immediately after the rights were issued. Dart sold its rights on December 31, 2020, for P10 a right. Dart's gain from the sale of right is?

Option 1: 0-
Option 2: 1,000
Option 3: 1,400
Option 4: 1,500

Reference no: EM132727322

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