Profits for the five years ending on 31st March are as follows Year 2015 minus Rs 4 00 000 Year 2016...........

Profits for the five years ending on 31st March, are as follows:

Year 2015 − Rs 4,00,000; Year 2016 − Rs 3,98,000; Year 2017 − Rs 4,50,000; Year 2018 − Rs 4,45,000 and Year 2019 − Rs 5,00,000.

Calculate goodwill of the firm on the basis of 4 years' purchase of 5 years' average profit. (3 marks)