9. You have been instructed by BAZOOKA COMPANY, a high-flying conglomerate, to conduct a purchase audit of XYZ Co's books to determine a possible purchase price for XYZ Co 's net assets. You find the following information: Total identifiable assets of XYZ Co at fair market value P 5,000,000 Liabilities 1,200,000 Average rate of return on net assets for XYZ Co s industry 15% Forecasted earnings per year based on past earnings figures 700,000 Determine the purchase price on the basis of the following assumptions: a. Goodwill equal to 3 years excess earnings b. Goodwill equal to the present value of excess earnings discounted at 15% for 3 years. The present value factor of an ordinary annuity of 1 at 15% for 3 periods is 2. 28323. C. Goodwill equal to the capitalization of excess earnings at 15%