The Barden Corporation Has the Following Equity Accounts on Its

The Barden Corporation has the following equity accounts on its balance sheet: $\begin{array}{lr}\text { Common Stock ( } \$ 1.25 \text { par, } 3,000,000 \text { shares) } & \$, 750,000 \\\text { Contributed capital in excess of par } & 24,250,000 \\\text { Retained earnings } & 153,600,000 \\\text { Total common stockhol ders' equity }&\$181,600,000\end{array}$ ? What is the maximum amount of dividends per share that may be paid by the Barden Corp. if the capital impairment provisions of state law are limited to the par value and the capital in excess of par accounts?

A) $59.28
B) $51.20
C) $60.53
D) $8.08