X Limited has an investment of <30 crore divided into 30 lakh ordinary shares. The profitability rate of the firm is 20 per cent and the capitalization rate is 12.5 per cent. What is the optimum dividend payout for the firm if the Walter's model is used? What shall be the price of the share at optimum payout? Would your answer change if the profitability rate is assumed to be 15 per cent? What would happen if profitability rate were 10 per cent? Show your computations.