Romer and Lyndon entered into a partnership agreement $in$ which Romer $isto$ have $55\%$ interest $in$ the partnership and $35\%in$ the profit and loss and Lyndon will have $45\%$ interest $in$ the partnership and $65\%in$ the profit and loss.

Romer contributed the following:

Cost Fair Value

Building $235,000255,000$

Equipment $168,000156,000$

Land $500,000525,000$

The building and the equipment had a mortgage $ofP50,000$ and $P35,000,$ respectively. Lyndon $isto$ contribute $P150,000$ cash and $an$ equipment. The partners agreed that only the building mortgage will $be$ assumed $by$ the partnership.

What $is$ the fair value $of$ the equipment which Lyndon contributed?

$989,143$

$574,909$

$546,273$

$615,818$