A, B and C are partners in a firm sharig profits and losses in the ratio of 3 : 2 : 1. They decide to take D into partnership for 1/4th share on 1st April, 2017. For this purpose, goodwill is to be valued at 3 times the average annual profits of the previous four or five years whichever is higher. The agreed profits for goodwill purpose of the past five years are as follows:
`{:(,,"Rs,"),("Year ending on 31st March 2013",,"1,30,000"),("Year ending on 31st March 2014",,"1,20,000"),("Year ending on 31st March 2015",,"1,50,000"),("Year ending on 31st March 2016",,"1,10,000"),("Year ending on 31st March 2017",,"2,00,000"):}`
Calculate the value of Goodwill.

Explanation

Goodwill Rs. 4,35,000