Ambidex Ltd

Multiple Choice

Ambidex Ltd. established five years ago, was capitalized with $4.5 million from the sale of common shares. The company retained 100% of its earnings through that period. This year Ambidex Ltd. declared a dividend which provided common shareholders with a return of 12% compounded annually. What was the amount of the dividend declared?

A) $3,429,000
B) $7,929,000
C) $792,900
D) $2,553,435
E) $255,343