A company's board of directors votes to declare a cash dividend of $.75 per share of common stock. The company has 15,000 shares authorized, 10,000 issued, and 9,500 shares outstanding. The total amount of the cash dividend is:
A. $7,500.
B. $11,250.
C. $14,625.
D. $10,250.
E. $7,125.
Answer: E
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