Jocky Company acquired three equipment for P400,000 in a basket purchase. The three assets together had a book value of P320,000 on the seller's books. An appraisal costing the purchaser P4,000 indicated that the three equipment had the following market values (book values are given in parenthesis): Equipment 1: P120,000 (P80,000); Equipment 2: P160,000 (100,000); Equipment 3: P200,000 (140,000)

1. At what cost should Jocky recognize Equipment 1? Round off to nearest peso
2. At what cost should Jocky recognize Equipment 2? Round off to nearest peso
3. At what cost should Jocky recognize Equipment 3? Round off to nearest peso