Comprehension:Read the following passage carefully and answer the questions that follow.$X$ Ltd. issued $30,000$ shares to the public having a Face Value of ₹ $100$ at a $10\%$ premium. The money is receivable as follows:Application = ₹ $40$ (including premium)Allotment = ₹ $45$ First and Final call = Remaining amountThe public applied for $50,000$ shares. The company rejected applications for $10,000$ shares and made a pro-rata allotment to the remaining applicants. A shareholder who had applied for $400$ shares failed to pay the allotment and call money, and his shares were subsequently forfeited by the company. Later, these forfeited shares were reissued at ₹ $80$ each as fully paid.What is the total amount of application money to be refunded by the company?

1. A
   ₹ $4,00,000$
2. B
   ₹ $12,00,000$
3. C
   ₹ $10,00,000$
4. D
   ₹ $11,00,000$