On January 1, 2022, SKSU leased a machinery to another entity with the following details: (see photo). What is the carrying value of the net investment in the lease on December 31, 2022? Cost of machinery Annual rental payable at the end of each year Residual value Lease term and useful life of the machinery Implicit rate in the lease Before considering the initial direct cost After considering the initial direct cost Present value of ordinary annuity of 1 at 12% for 4 years Present value of ordinary annuity of 1 at 10% for 4 years Present value of 1 at 12% for 4 years Present value of 1 at 10% for 4 years 3,583,700 1,000,000 800,000 4 years 12% 10% 3.0373 3.1699 0.6355 0.6830 Initial direct cost paid by lessor on January 1, 2022 amounted to P132, 600. The machinery will revert back to the lessor when the lease expires on December 31, 2025. Using the same information from SKSU, what is the noncurrent portion of the net investment in the lease on December 31, 2022?