21. The Philadelphia 76ers board of directors' votes to declare a cash dividend of 1.05 per share. The company has 50,000 shares authorized, 20,000 issued, and 11,500 shares outstanding. The total amount of the cash dividend is: A) $12,075 B) $40,425 C) S 8.925 D) $31,500 E) $19,425 22. Preferred stock is often issued: A) To initiate or increase financial leverage B) To prevent dilution of common stock C) To appeal to investors who believe that common stock is too risky D) To boost the return earned by common shareholders E) All of these