(c) Momentum of one piece $= \frac{M}{4} \times 3$
Momentum of the other piece $= \frac{M}{4} \times 4$
$\therefore$ Resultant momentum $= \sqrt{\frac{9M^{2}}{16} + M^{2}} = \frac{5M}{4}$
The third piece should also have the same momentum
Let its velocity be $v$, then
$\frac{5M}{4} = \frac{M}{2} \times v\ \Rightarrow v = \frac{5}{2} = 2.5\ m/sec$