Akshay and Amit are partners in a firm and they admit Jaspal into partnership w.e.f. 1st April, 2026. They agreed to value goodwill at 3 years’ purchase of Super Profit Method for which they decided to average profit of last 5 years. The profits for the last 5 years were:

Year Ended                                                     Net Profit (Rs.)

31st March, 2022                                          1,50,000

31st March, 2023                                          1,80,000

31st March, 2024                                          1,00,000 (Including abnormal loss of Rs. 1,00,000)

31st March, 2025                                          2,60,000 (Including abnormal gain of Rs. 40,000)

31st March, 2026                                          2,40,000

The firm has total assets of Rs. 20,00,000 and Outside Liabilities of Rs. 5,00,000 as on that date. Normal Rate of Return in similar business is 10%. Calculate value of goodwill.