Six months ago, Tuchman Industries repurchased $50,000 of its common stock. The company pays regular semiannual dividends totaling $13,000 per period. What is the amount of the cash flow to stockholders for the past year if no additional shares were issued?
a. $37,000
b. $50,000
c. $63,000
d. $76,000
e. $102,000