The position of profitability and reserve of a company is as follows:
Rs.
Profit during a year 20.0 lakh
Depreciation 7.5 lakh
Depreciation for previous year not provided 8.0 lakh
General reserve 10.0 lakh
Investment allowance reserve 5.0 lakh
Paid-up share capital 50.0 lakh Determine the maximum amount of dividend the company may declare.
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