The answer is P1,055,000. I just need the complete solution.

The components of the cost of a major item of equipment are given below: Purchase price \"30.000 Import duties 117.000 Refundable purchase tax 78,000 Site preparation 30.000 Installation 23.000 Initial operating losses before the asset reaches planned performance 50.000 Estimated cost of dismantling and removal of asset 100.000 What amount may be recognized as the cost of the asset according to PAS 16 Property. Plant and Equipment