CT, Inc. has 10,000 shares of 8% P50 par preference shares and 100,000 shares of P4par ordinary shares outstanding. Two years preference dividends are in arrears. It declared cash dividends large enough to pay preference dividend in arrears, the preference dividends for the current period, and a P1.50 dividend to ordinary. What is the total amount oft he dividend? Required to answer.

a. P270,000

b. P260,000

c. P255,000

d. P225,000