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Question(s) / Instruction(s):

A company's board of directors votes to declare a cash dividend of $.75 per share. The company has 15,000 shares authorized, 10,000 issued, and 9,500 shares outstanding. The total amount of the cash dividend is:

  1. $10,250.
  2. $14,625.
  3. $7,125.
  4. $7,500.
  5. $11,250.

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