Kimm, Inc Had Net Income for 2008 of $2,120,000 and Earnings

Kimm, Inc. had net income for 2008 of $2,120,000 and earnings per share on common stock of $5. Included in the net income was $300,000 of bond interest expense related to its long-term debt. The income tax rate for 2008 was 30%. Dividends on preferred stock were $400,000. The payout ratio on common stock was 25%. What were the dividends on common stock in 2008?

A) $430,000
B) $530,000
C) $482,500
D) $645,000