A company's board of directors votes to declare a cash dividend of $1.35 per share of common stock. The company has 27,000 shares authorized, 22,000 issued, and 21,500 shares outstanding. The total amount of the cash dividend is:

a. $35,450.

b. $36,450.

c. $29,700.

d. $29,025.

e. $58,725.