2:20 Q 57% On December 31, 2021, CYCLOPS INC. signed a 5-year lease agreemen to lease a storage building from Storage Company. The following information pertains to the lease agreement: The agreement requires equal rental payments of P500,000 beginning on December 31, 2022. . The building has an estimated economic life of 12 years, with an unguaranteed residual value of P100,000. CYCLOPS depreciates similar buildings on a straight-line method. . At the termination of the lease, the building reverts to the lessor. CYCLOPS's incremental borrowing rate is 12% per year. The lessor's implicit rate is not known by CYCLOPS. How much is the depreciation expense for the year 2022? 351.828 371,828 340,480 360,478 III = #