Smith Company has 40,000 shares of $80 par value, 5% cumulative preferred stock and 140,000 shares of $20 par value common stock. Smith declares and pays cash dividends amounting to $225,000. If no arrearage on the preferred stock exits, how much in dividends per share is paid to the common stockholders?

Select one:

A. $0.46

B. $1.00

C. $4.00

D. $1.61