The Company leased office premises to another entity for a five-year term beginning January 1, 2023. Under the terms of the operating lease, rent for the first year is P300,000 and rent for years 2 through 5 is P900,000. However, as an inducement to enter the lease, The Company granted the lessee the first six months of the lease rent-free. What amount of rent income should be reported for 2023? 300,000 750,000 600,000 900,000