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Avena Corporation has 250,000 authorized shares of $1 par value common stock, of which 100,000 are issued, including 10,000 shares of treasury stock....

Avena Corporation has 250,000 authorized shares of $1 par value common stock, of which 100,000 are issued, including 10,000 shares of treasury stock. On October 15, the corporation's board of directors declared a cash dividend of $0.50 per share payable on November 15 to stockholders of record on November 1. What is the amount of dividends declared?
Answer

A. $125,000
B. $50,000
C. $45,000
D. Unable to determine

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