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M11-7 Determining the Amount of a Dividend [LO 11-3] Netpass Company has 100,000 shares of common stock authorized, 80,000 shares issued, and 45,000 shares of

M11-7 Determining the Amount of a Dividend [LO 11-3]

Netpass Company has 100,000 shares of common stock authorized, 80,000 shares issued, and 45,000 shares of treasury stock. The companys board of directors declares a dividend of $2.80 per share of common stock. What is the total amount of the dividend that will be paid?

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