Data related to the asset acquired by Mahogany Manufacturing Company are as follows:

Asset A was purchased at a list price of P10,000,000; terms 3/10,n/30. The asset invoice was paid after the discount period. Transportation charges were P25,000; installation costs were P10,000; and the cost of a trial runs was P10,500.Normal repairs and maintenance for the first year was P10,000.

Asset B could be purchased for five annual payments of P170,000 or P800,000 in cash. Mahogany elected to purchase Asset B under the installment plan. Other related acquisition costs totaled P10,000.

On March 1, 2020, Abacus Company offered to sell land to Mahogany for P850,000, the offer was rejected. On April 25, Mahogany issued 25,000 shares of ordinary shares in exchange for land. The par value of the stock is P20 per share; the market value was P40 at the time of purchase.Mahogany management was confident the land would be worth at least P900,000.

The company purchased equipment under a deferred payment contract-P500,000 down payment and 30 semiannual payments of P60,000 (Assume a 12% interest rate).

One of the majority stockholder donated a piece of land originally purchased for P6,000,000 and with current fair market value of P7,500,000.

In January 1, 2020, Mahogany Company entered into a contract to acquire a new machine for its factory. The machine, which has a cash price of P860,000 was paid for as follows:

DownpaymentP200,000

Notes payable (payable in four equal annual

Payment beginning 1/1/20)480,000

2,400 shares of Mahogany Co. (P100 par preference

share with an agreed value of P125/share)300,000

Assume the same information as in (f) above, but the cash price of P860,000 is not available. Prevailing interest rate for similar obligations is 10%. Present value of an ordinary annuity of P1 at 10% for four periods is 3.1699.

The Mahogany Company paid P24,000,000 to acquire land, buildings and equipment. At the time of acquisition, the company paid P240,000 for an appraisal which revealed the following values: Land - P8,000,000; Buildings - P10,000,000 and equipment-P2,000,000.

Instruction: Determine the cost of the above independent acquisitions.