On 1 January 2008, Sons and Co Ltd had an issued share capital of 200,000 ordinary £1 shares. The balance on the profit and loss account was £20,000 and there was also a general reserve of £16,000. During the year ended 31 December 2008, Sons and Co Ltd made a profit of £24,000, none of which was distributed. Pop Ltd bought 175,000 shares on 1 April 2008 for £240,000. Calculate the figure of goodwill to be shown in the consolidated balance sheet as at 31 December 2008.