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A company has 360,000 shares authorized, 120,000 shares issued, and 80,000 shares outstanding. It declares cash dividends of $1 per share. How much cash will

A company has 360,000 shares authorized, 120,000 shares issued, and 80,000 shares outstanding. It declares cash dividends of $1 per share. How much cash will the company pay for dividends?

$80,000

$40,000

$360,000

$120,000

$240,000

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