body armor that has 47% dmg taken as fire, how is final damage calculated?

I have body armour with "47% physical damage taken as fire", what happens if there is 1000 physical hit, will it be 530 dmg that is mitigated by armour, or original 1000? it makes a huge difference for effectiveness of armour stat (mostly for breaking), and I can't find any info anywhere

let's assume I have 10000 armour, if original 1000 damage from hit is considered for armour, from formula I have 50% physical reduction, then 500 hit 47% as fire is 235*0.1 and 265 = 288.5

if first it's transferred to fire, then it's 470*0.1 + 530 and for this dmg reduction will be ~65% resulting in 47 + 183 = 230

Armor scales based on damage dealt so say you have 1000 Armor and take 1000 Damage from a hit.

If its calculated before the Conversion;
1000 - 16% (1000 Armor vs 1000 Damage) = 840 - 47% = 445 Physical Damage Taken

If its calculated after Conversion;
1000 - 47% = 530 - 28% (1000 Armor vs 500 Damage) = 381 Physical Damage Taken

Based on PoE 1 Formula for Armor since its similar, but not exact.

I believe the physical damage that is incoming is first converted to fire. After that, the remaining physical damage incoming is mitigated by armour while the fire damage incoming is mitigated by resists. This is according to POB.

https://www.poe2wiki.net/wiki/Receiving_damage

1. 1000 divide in Fire and Physical
2. Damage mitigation is applied

PS
I have just swip my 20k armor to 6k armour with 40% convert to fire (83 fire res). Plus "add phys dmg red" (35%). So life become better.

thx everyone, that makes things clear