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A and B are partners sharing profits and losses in the ratio of 5 : 3. On 1st April, 2019, C is admitted to the partnership for 1/4th share of profits. For this purpose, goodwill is to be valued at two years' purchase of last three years' profits afterallowingpartners′remuneration
. Profits to be weighted 1 : 2 : 3, the greatest weight being given to last year. Net profit before partners' remuneration were: 2016-17 : 2,00,000; 2017-18 : 2,30,000; 2018-19 : 2,50,000. The remuneration of the partners is estimated to be 90,000 p.a. Calculate amount of goodwill.
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