On January 1, 2018, orlando inc had 120,000 shares of $1 par common stock issued and 70,000 shares outstanding. During 2018 orlando enacted a 2-for1 split on its common stock and accounted for its as a true split. After the split, orlando declared a dividend of $.80 per share to be paid to its common shareholders. What is the total amount of dividends payable that orlando should record when the dividend is declared?

a. $ 28,000

b. $ 56,000

c. $ 112,000

d. $ 192,000

e. $ 96,000