The answer is P238,000. I just need the complete solution.

On September 1, 2021, FOR Corporation purchased a new machine on a deferred payment basis. A down payment of P20,000 was made and 4 annual installments of P60,000 each are to be made beginning on September 1, 2021. The cash equivalent price of the machine was P230,000. Due to an employee strikeI POE could not install the machine immediately, and thus incurred P3,000 of storage costs. Costs of installation (excluding the storage costs) amounted to P8,000. The amount to be capitalized as the cost of the machine is