To find the R.L. of point Q, we can use the formula involving the angle of depression:
\[
\text{R.L. of Q} = \text{R.L. of P} - h - d \times \tan(\theta)
\]
Where:
- \( \theta \) is the angle of depression (5°),
- \( h \) is the height of the instrument above the staff (1.20 m),
- \( d \) is the horizontal distance (300 m),
- R.L. of point P is the staff reading at the BM, \( 436.050 - 2.865 = 433.185 \, \text{m} \).
Now, substitute the values into the equation:
\[
\text{R.L. of Q} = 433.185 - 1.20 - 300 \times \tan(5^\circ) = 433.185 - 1.20 - 300 \times 0.08749 = 433.185 - 1.20 - 26.247 = 405.738 \, \text{m}
\]
Final Answer:
\[
\boxed{405.738 \, \text{m}}
\]