Moncton Meats Is a Corporation That Earned $3 Per Share

Moncton Meats is a corporation that earned $3 per share before it paid any taxes.The firm retained $1 of after-tax earnings for reinvestment,and distributed what remained in dividend payments.You hold 20,000 shares of Moncton Meats in a tax-free savings account.If the corporate tax rate was 30% and dividend earnings were taxed at 20%,what was the value of your dividend earnings received after all taxes are paid?

A) $40,000
B) $16,000
C) $20,000
D) $17,600
E) $22,000