Raman and Daman are partners sharing profits in the ratio of 60:40 and for the last four years they have been getting annual salaries of ₹50,000 and ₹40,000 respectively. The annual accounts have shown the following net profit before charging partners’ salaries:

Year ended 31st March, 2023: ₹1,40,000; 2024:  ₹1,01,000 and 2025: ₹1,30,000.

On 1st April, 2025, Zeenu is admitted to the partnership for 1/4th share in profit (without any salary). 

Goodwill is to be valued at four years’ purchase of weighted average profit of last three years (after partners’ salaries); Profits to be weighted as 1, 2 and 3, the greatest weight being given to the last year.

Calculate the value of Goodwill.