Form the following particulars, calculate value of goodwill of a firm by applying Capitalisation of Average Profit Method:

(i) Profits of last five consecutive years ending 31st March are: 2019 − Rs 54,000; 2018 − Rs 42,000; 2017 − RS 39,000; 2016 − Rs 67,000 and 2015 − Rs 59,000.

(ii) Capitalisation rate 20%.

(iii) Net assets of the firm Rs 2,00,000.                  (3 marks)