Bob and Boby formed the BB Partnership on January 01, 2019. Bob contributed a used machine with a carrying amount of P89,473. The machine has a remaining useful life of 5 years, its assessed value is at P73,392, while its second-hand value is estimated at P85,107. Boby meanwhile contributed a brand-new motor vehicle which was agreed to be worth P133,728. The motor vehicle had a purchase price of P129,232, and Boby paid installation costs of P2,172 and inspection costs of P1,349. The new motor vehicle also had a chattel mortgage attached to it valued at P20,036 which was assumed by BB Partnership. Additionally, Bob and Boby contributed cash at P28,935 and P30,547, respectively. Required: Immediately after formation, how much is the firm's total assets