(Please show work)

Duke Corporation reports the following components of stockholders' equity on December 31, 2013.

Common stock $26 par value, 130,000 shares
authorized, 40,000 shares issued and outstanding	$1,040,000
Paid-in capital in excess of par value, common stock	70,000
Retained earnings	490,000
Total stockholders' equity	1,600,000

In year 2014, the following transactions affected its stockholders' equity accounts.
Jan. 1	Purchased 6,000 shares of its own stock at $28 cash per share.
Jan. 5	Directors declared a $4 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.
Feb. 28	Paid the dividend declared on January 5.

What is the amount of the dividend declared?

$195,500

$160,000

$136,000

$336,750

$354,000