(Note: Question 63 is a Kaplan CPA Review Question) Elvis Presley, a partner in an accounting firm, decided to withdraw from the partnership. Presley's share of the partnership profits and losses was 20%. Upon withdrawing rom the partnership he was paid S74 000 n final settlement for his interest. The total of the partners' capital accounts before recognition of partnership goodwill prior to Presley's withdrawal was $210,000. After his withdrawal the remaining partners' capital accounts excluding their share of goodwill, totaled $160,000. The total agreed upon goodwill of the firm was: O $250.000 ? $140,000 O $160,000 ? o $120,000