Help please.. On January 1, 2021, Chicken Nuggets Company leased an equipment with the following information:

Annual rent (first payment: December 31, 2021) P800,000

Unguaranteed Residual Value 100,000

Payment to lessor to obtain long term lease 54,000

PV of cost in restoring the asset as required by contract 100,000

Annual executory cost paid 20,000

Lease term 6 years

useful life of equipment 8 years

Implicit interest rate 10%

PV of ordinary annuity of 1 at 10% for 6 periods 4.36

PV of 1 at 10% for 6 periods 0.56

The lease provides for either a transfer of title to the lessee nor a purchase option.

Determine the total initial cost of Right of Use Asset.