A portion of the office building of Konoha Co. was destroyed by a fire on January 2, 2011. Naruto was able to recover the following information on one of its PPE items: An entry made on December 31, 20010 on piecemeal realization of Revaluation surplus:

Debit: Revaluation Surplus 250,000 Credit: Retained Earnings. 250,000

Some information regarding the revaluation the machinery on January 1, 20010 revealed the Sound Value of the machinery for P7,800,000. The remaining useful life of the asset as of revaluation date is 10 years and the book value of the machinery is actually 5/6 of its acquisition cost. Naruto also found out that the machinery was acquired through credit and a discount of 6% was unintentionally not taken by the management. How much is the purchase price of the machinery net of discount?