Sweet Industries net income for the last five years, average earnings, and fair value of identifiable assets are as follows Earnings History Fair Values, December 3, 2019 2014 $143,000 Cash $61,000 2015 150,000 Accounts Receivables 110,000 2016 129,000 Inventory 88,000 2017 136,000 Property, Plant & Equipment 204,000 2018 145,000 Land 97,000 Total for 5 years $703,000 Liabilities 78,000 Fair value of identifiable net assets $482,000 The return on investment of an average firm in the same industry is 20%. Excess earnings are capitalized at a discount rate of 20% in perpetuity. Estimate the value of goodwill using the excess-earnings approach. Value of Goodwill