Molls Limited Has Issued Share Capital of £350,000 Made Up

Molls Limited has issued share capital of £350,000 made up of £100,000 in £1 preference shares and £250,000 in 50 pence ordinary shares. The preference dividend rate is 6% and Molls Limited pays an interim dividend of 4 pence per share and a final dividend of 9 pence per share during the financial year ended 31 August 2020. What is the total dividend that will be deducted from retained earnings for the financial year to 31 August 2020?

A) £32,500
B) £38,500
C) £65,000
D) £71,000