The following details relate to M$/$s XYZ$,$ a firm:

Average profit of last four years $=$ $$7,00,000$

Average capital employed by the firm

: $$55,00,000$

Normal rate of return :$10\%$

Present value of annuity of $$1$ for $4$ years @ $10\%$ : $3\mathrm{.}1699$

Determine the value of goodwill on the basis of annuity of super profit.