Diana Company's accounting policy with respect to investment properties is to measure them at fair value at the end of each reporting period. The investment properties was measured at P6,000,000 on December 31, 2021.

The property had been acquired on Jan.1,2021 for a total of P5,700,000 made up of P5,175,000 paid to the vendor, P225,000 paid to the local authority as a property transfer tax and P300,000 paid to professional advisers. The useful life of the property is 40 years. 

What is the gain to be recognized for the year ended, Dec. 31, 2021 in respect of the investment property?