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A company's board of directors votes to declare a cash dividend of $1.60 per share. The company has 32,000 shares authorized, 27,000 issued, and 26,500

A company's board of directors votes to declare a cash dividend of $1.60 per share. The company has 32,000 shares authorized, 27,000 issued, and 26,500 shares outstanding. The total amount of the cash dividend is:

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