A company has authorized capital of 100,000 5% preference shares of $2 each and 500,000 ordinary shares of $0.20p each. All of the preference shares have been issued, and 400,000 ordinary shares have been issued at $0.45p each.

Interim dividends of $0.10p per ordinary share, plus half the preference dividend have been paid during the current year. A final dividend of $0.20p per ordinary share is declared.

The total of dividends payable for the year is