Fischer company has outstanding 8,000 shares of $100 par value, 5% preferred stock, and 50,000 shares of $1 par value common stock. The company has $328,0000 of retained earnings. At year-end, the company declares and pays regular $5 per share cash dividend on preferred stock and $1.80 per share cash dividend on common stock.

what is the TOTAL dividends paid by Fischer company?

A.) $328,000

B.) $ 40,000

C.) $ 90,000

D.) $130,000

Please explain answer choice in detail.