Using the 'empirical form' of Lintner's model of dividend formulation together with the information provided below determine the long- run payout ratio of Maxwell's Limited.
Historical data for Maxwell's Limited 
Using a regression analysis,an analyst estimates the following additional variables:
a = 24.8
b = 0.2589
c = - 0.5481
What is the long- run payout ratio?
Definitions:
Frequency Polygon
A graphical representation of the distribution of a dataset that shows how often each value in the dataset occurs.
Ogive
A graphical representation of the cumulative frequency or cumulative relative frequency on a graph.
Pie Chart
A circular statistical graphic which is divided into slices to illustrate numerical proportion.
Cumulative Frequency Distribution
A frequency distribution that shows frequencies for class intervals along with the cumulative frequency at each.
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