Juan, a Filipino residing in Davao died on December 10,2018 , leaving a gross estate of P6,500,000 including a parcel of land valued at P1,625,000, which he inherited from his father who died on October 5 , 2015; that the land was previously taxed with a fair value of P1,500,000 for estate tax purposes in the estate of his father; that the land was subjected to a mortgage of P468,750 at the time it was inherited by the present decedent, which amount was deducted from the net estate of the father; that the present decedent paid P287,500 of the mortgage indebtedness and that the total deductions claimed for expenses losses, etc. including the unpaid mortgage of P281,250 was P762,500. Compute the correct amount of vanishing deduction