A and B are partners with the following capital balances and profit-sharing percentages: A (40%) ₱750,000 and B (60%) ₱1,050,000. A and B admitted C into the partnership when C purchased 20% of the...

A and B are partners with the following capital balances and profit-sharing percentages: A (40%) ₱750,000 and B (60%) ₱1,050,000. A and B admitted C into the partnership when C purchased 20% of the capital interests of A and B for ₱400,000. The partnership’s net assets on C’s admission date were fairly valued. How much is the total equity of the partnership immediately after the admission of C?