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The owners of Samson Company are planning to sell the business to new interests. The cumulative net earnings for the past 5 years was P13,500,000

The owners of Samson Company are planning to sell the business to new interests. The cumulative net earnings for the past 5 years was P13,500,000 including casualty loss of P750,000. The current value of net assets of Samson Company was P30,000,000. Goodwill is determined by capitalizing average earnings at 8%. What is the amount of goodwill?

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