The Roosevelt Car Company has determined that it will pay a total cash dividend of

$80,000. Roosevelt has 1,000 shares of 5%, $100 par, cumulative, non-participating

preferred stock with two years of dividends in arrears, currently selling for $131/share,

and 20,000 shares of no-par, no stated value common stock issued and outstanding,

currently selling for $15/share.

How much cash dividend will be paid on each share of common stock?

A. $3.02

B. $3.25

C. $3.50

D. $3.75

E. $4.00