On January 2021, Yellow Ribbon invested Php 900,000 in equity securities representing 15% interest in Rings Trading. Yellow Ribbon incurred transaction cost of Php 100,0000 related to the acquisition of the security. On December 31, 2021 the investment has a market value of Php 950,000 and was sold at Php 1,200,000 on July 1, 2022. How much is the initial carrying value of the investment on the date of acquisition?