The following is the Balance Sheet of Mr. X as on 31.12.2015: Capital General Reserve Creditors Liabilities

The following is the Balance Sheet of Mr. X as on 31.12.2015:

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Capital General Reserve Creditors Liabilities ₹ 1,64,000 Land and Building 40,000 Plant 38,040 Investment Inventories Bank Debtors Assets 2,42,040 The following were the net profits for the year ended : 2013: 32,280; 2014: 36,870; 2015 : * 43,350. The above amounts include income from investment, 1,800 each year. ₹ 36,000 54,500 30,000 26,350 75,990 19,200 2,42,040 You are required to value the Goodwill of the above business at 2 years' purchase of the average super profit for 3 years, taking into account the fact that the standard rate of return on capital employed in such type of business is 10% and assuming that each year's profit is immediately withdrawn in full by Mr. X.