A company's board of directors votes to declare a cash dividend of $0.80 per share of common stock. The company has 16,000 shares authorized, 11,000 issued, and 10,500 shares outstanding. The total amount of the cash dividend is:
A. $8400.
B. $8800.
C. $11,800.
D. $12,800.
E. $17,200.
Answer: A
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