Peter, Rachel and David have the following capital balances, respectively: $80,000, $100,000 and $60,000. The partners share profits and losses according to the following ratio, respectively: 20%, 40%, 40%. Rachel retires and is paid $160,000, based on an independent appraisal of the fair value of the business. If the goodwill method is used, what is the dollar amount of goodwill, and what is Peter's capital balance after the valuation adjustment? Peter's capital Goodwill [Choose ] [Choose ] >