ABC Co. engaged your services to compute the goodwill and purchase acquisition Of XYZ Corp. The following data are available for XYZ Corp. Cu rrent Asset Investments Current Liabilities 2, 500, 000 Non-current liabilities Property, Plant and Equipment 13,000,000 Ordinary shares Share Premium Accumulated Profits price for the 7 ooo,ooo Total Assets Total Liabilities and Equity You found out that the investments have a fair value of P2,OOO,OOO and the current assets and property, plant and equipment are understated by P800,OOO and respectively. All other assets and equities are properly stated. An examination of the company's income for the last 4 years revealed that the total earnings amounted to P9,OOO,OOO. The said earnings include gain on sale during the last year of PIOO,OOO and PISO,OOO annual bonus of the president. The normal rate of return is 10%. Compute for the goodwill (purchase of goodwill for 4 years).