Yey Company purchased a new machine for P8,000,000 on January 1, 2018 for the purpose of leasing it. The machine has an estimated 10-year life. On April 1, 2018, Yey leased the machine to Happy Co. for 3 years at a monthly rental of 200,000. Happy Co. paid the rental for 1 year of P2,400,000 on April 1, 2018 and additionally paid P600,000 to Yey as a lease bonus to obtain the three-year lease. For 2018, Yey incurred insurance of P50,000 for the leased machine. What is Yeys 2018 operating profit on this leased asset?