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Q2.Profits for the five years ending on 31st March, are as follows:
Year 2015 − 4,00,000; Year 2016 − 3,98,000; Year 2017 − 4,50,000; Year 2018 − 4,45,000 and Year 2019 − 5,00,000.
Calculate goodwill of the firm on the basis of 4 years' purchase of 5 years' average profit.
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