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A company's board of directors votes to declare a cash dividend of $1.75 per share of common stock. The company has 35,000 shares authorized, 30,000

A company's board of directors votes to declare a cash dividend of $1.75 per share of common stock. The company has 35,000 shares authorized, 30,000 issued, and 29,500 shares outstanding. The total amount of the cash dividend is:

$60,250.

$104,125.

$61,250.

$52,500.

$51,625.

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