Banco de Islas Pilipinas acquired all of Batmansons Bank Inc. Corporation's assets and liabilities on January 2, 2024, in a business combination. At that date, Batmansons Bank Inc. reported assets with a book value of P624,000 and liabilities of P356,000. Banco de Islas Pilipinas noted that Batmansons Bank Inc. had P40,000 of research and development costs on its books at the acquisition date that did not appear to be of value. Banco de Islas Pilipinas also determined that patents developed by Batmansons Bank Inc. had a fair value of P120,000 but had not been recorded by Batmansons Bank Inc. Except for building and equipment, Banco de Islas Pilipinas determined the fair value of all other assets and liabilities reported by Batmansons Bank Inc. approximated Banco de Islas Pilipinas recorded amounts. In recording the transfer of assets and liabilities to its books, Banco de Islas Pilipinas recorded goodwill of P93,000. Banco de Islas Pilipinas paid P517,000 to acquire Batmansons Bank Inc's asset and liabilities. If the book value of Batmansons Bank Inc's buildings and equipment was P341,000 at the date of acquisition, what was their fair value