Accounting · Government Grants

Derringdo Co invested in a new server at a cost of $800,000 on 1 October 20X2. The server has an estimated useful life of ten years with a residual value equal to 15% of its cost. Derringdo Co uses straight-line depreciation on a time-apportioned basis. The company received a government grant of 30% of its cost price at the time of purchase. Derringdo Co's accounting policy for capital-based government grants is to treat them as deferred income and release them to income over the life of the asset. What amount will be presented under non-current liabilities at 31 March 20X3 in respect of the grant?