FEL has an earning level of Rs$,5$ crore. If invested back in the business $,$ it can earn Rs$.1\mathrm{.}5$ crore additional. The investors have expectation if $35\%.$ Find the following as per Walter$$s Model

a$.$ The value of the firm if it follows payout of

i$.0\%$

ii$.30\%$

iii. $60\%$

b$.$ The optimum payout ratio

c$.$ The maximum value the share can command