FDN Trading's Office Equipment account has a balance of P596,000 and Accumulated Depreciation of P155,000 on January 1, 2022. On July 1, 2022, the firm bought additional equipment for 984,000. It is the policy of the firm to depreciate its fixed assets (plant, property, and equipment) at 10% per year with residual value of 10% of acquisition cost. How much is the Depreciation Expense to be reported for the year ended December 31, 2022? Note: Round off final answer to the nearest peso