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A firm earns profit of Rs. 5,00,000. Nor...

A firm earns profit of Rs. 5,00,000. Normal Rate of Return in a Similar type of business is `10%`. The value of total assets (excluding goodwill) and total outsiders' liabilities as on the date of goodwill are Rs. 55,00,000 and Rs. 14,00,000 respectively. Calculate value of goodwill according to Capitalisation of Super Profit Method as well as Capitalisation of Average Profit Method.

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