On Jan. 1, 2020, Hot Co leased an office building with the following terms: Annual rental at year-end - P300,000 Lease term and useful life of building - 4 years Implicit rate - 10% PV of ordinary annuity of 1 at 10% for 4 periods - 3.17 On Jan 1, 2022, the lessee and lessor agreed to amend the original terms with the following information: Annual rental at year-end - P300,000 Extension - 3 years Implicit rate - 12% PV of ordinary annuity of 1 at 12% for 5 periods - 3.61 REQUIRED: 1. Dec. 31, 2021 Lease liability 2. Increase in lease liability as result of the modification? 3. 2022 Depreciation