On January 1, 2021, Jennie Company leased a building to Kim Company under an operating lease for 10 years at P400,000 per year, payable at first day of each lease year. Jennie Company paid P140,000 to real estate broker as a finder fee. The building is depreciated at P110,000 per year. Jennie Company incurred insurance and property tax expense totaling P75,000 for the current year. What amount should be reported as Net rent income for the current year?