Katz Corporation has issued 400,000 shares of common stock and holds 20,000 shares in treasury. The charter authorized the issuance of 500,000 shares. The company has declared and paid a dividend of \(\$ 1\) per share. What is the total amount of the dividend?

a. \(\$ 400,000\)

b. \(\$ 20,000\)

c. \(\$ 380,000\)

d. \(\$ 500,000\)