Question: 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

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) $8.925 D) $31,500 E) $19,425

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