A company has the following Capital Structure: Ordinary $10 shares authorized: 1,000,000, of which 800,000 are issued. 100,000 $20 Preference shares issued and $5,000,000 Bonds at 5% interest The directors propose a 50 cent dividend on ordinary shares. A 80 cent dividend is due on the preference shares What is the total equity of the company? $17,000,000 $12,000,000 $7,000,000 $15.000.000