On its Form 10-K for the year ended December 31, 2015, Bank of America Corp. reported the following relating to dividends on its Series 5 Floating Rate Non-Cumulative Preferred stock. Dividend Payment Date Dividend Per Share 22-Feb-16 0.25556 23-Nov-15 0.25556 21-Aug-15 0.25556 21-May-15 0.24722 23-Feb-15 0.25556 There were 14,058 million shares of this preferred stock outstanding throughout the year. Determine the total dividends that Bank of America paid during fiscal 2015.Round answer to the nearest million and show how your arrived to the answer.

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Stockholder's Equity

The stockholders’ equity (often referred to as the book value of the company) is the number of assets available to the stockholder after its entire liabilities is paid off. The stockholders’ equity is also sometimes referred to as owner's equity. The stockholders’ equity or book value generally includes common stock, treasury stock retained earnings. It is an indicator of a company's financial strength and is an important item on the company's balance sheet.