Please help... On January 1, 2021, Chicken Nuggets Company leased building with annual rental of P100,000 for 10 years, 12% implicit interest rate. Chicken Nuggets Company paid an additional amount of P15,000 as lease bonus on the same date. The lessor paid to the lessee an incentive worth P5,000 to cover up some initial expenses made by the lessee.

Initial direct costs by the lessee amounts to P 50,000. An amount equal to P 25,000 is expected to be the estimated cost of dismantling the asset, which was lessee's present obligation.

PV factor for an ordinary annuity for 10 periods is 5.650 at 12%.

How much is the initial cost of right of use asset?