Problem 8-26 (Algo) Treasury stock transactions LO 6 The following information applies to the questions displayed below.) On January 1, 2019, Metco Inc. reported 290,000 shares of $4 par value common stock as being issued and outstanding On March 24, 2019, Metco Inc purchased for its treasury 4,000 shares of its common stock at a price of $39.00 per share On August 19, 2019, 590 of these treasury shares were sold for $4250 per share Metco's directors declared cash dividends of $0.30 per share during the second quarter and again during the fourth quarter payable on June 30, 2019, and December 31, 2019, respectively. A 3% stock dividend was issued at the end of the year There were no other transactions affecting common stock during the year Problem 8-26 (Algo) Part b b. Calculate the total amount of the cash dividends paid in the second quarter Dividend paid