Jessup Corp. has 250,000 shares of common stock authorized. It has issued 85,000 shares and has reacquired 9,000 of these shares as treasury stock. Jessup subsequently declared a cash dividend of $5 per share. What is the total amount of dividends that were declared?

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The Answer of Jessup Corp. has 250,000 shares of common stock authorized. It has issued 85,000 shares and has reacquired 9,000 of these shares as treasury stock. Jessup subsequently declared a cash dividend of $5 per share. What is the total amount of dividends that were declared?