Hometown Grocery, Inc. has 49,000 shares of common stock outstanding and 2,000 shares of preferred stock outstanding. The common stock is $4 par value the prefered stock is 5% cumulative with a $100 per value. On October 15, 2004, The company declares a total dividend payment of $47,000. What is the amount of dividend that will be paid for each share of common stock? (Round your answer to the nearest cent) OA. $19.60 OB $1,960.00 OC. $1.04 D. $0.76 CID