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 $328,000 of retained earnings. At year-end, the company declares and pays the regular $5 per share cash dividend on preferred stock and a $1.80 per share cash dividend on common stock.

What is the total dividends paid by Fischer Company?

Select one:

A.$90,000

B.$328,000

C.$130,000

D.$40,000