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A company's board of directors votes to declare a cash dividend of $1.40 per share of common stock. The company has 28,000 shares authorized, 23,000

A company's board of directors votes to declare a cash dividend of $1.40 per share of common stock. The company has 28,000 shares authorized, 23,000 issued, and 22,500 shares outstanding. The total amount of the cash dividend is:

$63,700.

$32,200.

$38,200.

$39,200.

$31,500.

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