due to inadequacy of profit during the year the company proposes to declare dividend 619433

Due to inadequacy of profit during the year, the company proposes to declare dividend out of general reserves, from the following particulars. You are required to ascertain the amount that can be drawn by applying the Companies (Declaration of dividend out of reserves) Rules 1975:

(i)	52,500 % Preference shares of 100 each fully paid	=	52,50,000
(ii)	21,00,000 Equity shares of 10 each fully paid	=	2,10,00,000
(iii)	Capital reserve on revaluation of assets	=	10,50,000
(iv)	General reserve	=	63,00,000
(v)	Securities Premium	=	10,50,000
(vi)	P&L A/c balance (Cr.)	=	1,89,000
(vii)	Net profit for the year	=	10,71,000

Average rate of dividend during the last five years is 15%.