Balagtas Corporation acquires a coal mine at a cost of P500,000 in 2015. Intangible development costs total P120,000.

After extraction has occurred, Balagtas must restore the property (estimated fair value of the obligation is P60,000),
after which it can be sold for P170,000. Balagtas estimates that 5,000 tons of coal can be extracted. As there was no
changes in estimates through the years,the following data were presented from its operations in the past five years.
     
Year Extracted (in tons) Income from Total Dividend Dividend out of Ending Inventory ( in
Operation declared Income tons)

2015 600 P 1,100,000 500,000 500,000 200

2016 500        600,000 650,000 500,000 300

2017 700        700,000 650,000 500,000 400

2018 800     1,200,000 700,000 500,000 600

2019 1,200        900,000     300

 
How much is the maximum dividend to be declared by Balagtas in 2019?