Explanation:

- Total share value per share is ?100.

- Paid-up amount before forfeiture is ?70 (since the second and final call of ?30 was unpaid).

- Total paid-up amount for 200 shares before forfeiture is ?70 * 200 = ?14,000.

- Upon reissue, the maximum discount allowed is equivalent to the amount already paid before forfeiture.

- Since ?14,000 was paid before forfeiture, this is the maximum discount that can be allowed.

- Option 1: ?10,000 - Too low.

- Option 2: ?30,000 - Too high.

- Option 3: ?14,000 - Correct

- Option 4: Nil - Incorrect, as a discount equivalent to paid-up amount is permissible upon reissue.

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