On 1 January 20X1, Tissavel acquires a right to use a patented textile pattern for 1,000,000 and will exploit it for 4 years. A competing manufacturer has contractually committed to buy this right back for 200,000 at the end of the 4 years. The entity applies the cost model and the straight-line method. What is the carrying amount of the right at 31 December 20X2?