Raymund Lipstix Co. owns 80% of PH Care, Inc. During the year, PH Care, Inc. filed for bankruptcy and is about to enter into liquidation. Raymund Lipstix Co. has an outstanding unsecured receivable of P4,000,000 from PH Care, Inc. together with an investment in subsidiary of P20,000,000. The statement of affairs of PH Care, Inc. shows a 100% recovery for outside creditors and a 20% recovery for inside creditors. 30. How much can Raymund Lipstix Co. expect to recover from its receivable? a. 800,000 b. 4,800,000 c. 640,000 d.0

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