Information on Mix Co.'s equipment on June 30, 20x8 is shown below.

Equipment(at cost) 500 000

Accumulated Depreciation 150 000

Carrying Amount 350 000

The equipment consists of two machines, Machine A and Machine B. Machine A has a cost of P 300 000 and a carrying amount of P 180 000. Machine B has a cost of P 200 000 and a carrying amount of P 170 000. Both machines are measured using the cost model and depreciated using a straight line basis over a ten-year period.

On December 31, 20x8, Mix Co. decided to change from the cost model to the revaluation model. Information on this date follows:

Fair Values Remaining Useful life

Machine A 180 000 6 years

Machine B 155 000 5 years

On June 30, 20x9, Machine A and Machine B have fair values of 163 000 and 136 500, respectively and remaining useful lives of 5 years and 4 years, respectively. The tax rate is 30%.

How much is the depreciation expense for the fiscal year ended June 30, 20x9?