The total of the partners' capital accounts was $110,000.00 before recognition of partnership goodwill in preparation for the withdrawal of a partner whose profit and loss sharing ratio is 20%.
He was paid $28,000.00 by the firm in final settlement for his interest.
The remaining partners' capital accounts excluding their share of the goodwill totaled $90,000.00 after his withdrawal.
The total goodwill of the firm agreed upon was?

It would be better if you were to provide your answer for guidance. However, in order to help you out, the amount of goodwill attributed to the retiring partner is the amount paid less the amount of his capital before retirement. Calculate the total goodwill based on the retiring partner's share in the business.

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