If a Company Has 14 Million Common and 5 Million

Multiple Choice

If a company has 14 million common and 5 million preferred shares outstanding with dividend per share of $2.8, reported earnings of $70 million and a dividend payout ratio of 25%, what was the dividend paid per share?

A) $0.50
B) $1.00
C) $2.50
D) $4.00
E) $5.00