.A partnership firm earned net profits during the last three years ended 31st March, as follows: 2017 − 17,000; 2018 − 20,000; 2019 − 23,000.

The capital investment in the firm throughout the above-mentioned period has been 80,000. Having regard to the risk involved, 15% is considered to be a fair return on the capital. Calculate value of goodwill on the basis of two years' purchase of average super profit earned during the above-mentioned three years.