Steel and Company purchased a machine from Safe Machine Limited for ₹ $4,80,000$ and took over its liabilities of ₹ $3,00,000$. As per the purchase agreement, ₹ $50,000$ was paid in cash, and the remaining balance was settled by the issue of $2,000$ equity shares of ₹ $100$ each. What will be the amount of goodwill or capital reserve arising from this acquisition?

1. A
   Capital reserve of ₹ $70,000$
2. B
   Goodwill of ₹ $70,000$
3. C
   Capital reserve of ₹ $20,000$
4. D
   Goodwill of ₹ $20,000$