The answer is P1,700,000. I just need the complete solution.

On January 1. 2011, Red Company acquired equipment to be used in its manufacturing operations. The equipment has an estimated useful life of 10 years and an estimated residual value of P5D,OOD. The depreciation applicable to this equipment was P240,000 for 2013 computed under the sum of years' digits. What was the acquisition cost of the equipment