The correct answer is: $120,000.

There are $2,000,000 / 50c

= 4,000,000 shares * 3c dividend

= $120,000.

$60,000 is incorrect. You have assumed there were only 2,000,000 shares. These are 50c shares so it takes 4,000,000 of them to make up the $2,000,000 statement of financial position figure.

$600,000 is incorrect. Dividends are only paid on issued share capital. You have assumed dividends are paid for all authorised share capital. You have also incorrectly assumed that there were 20,000,000 authorised shares. Here we are told the number of authorised shares not a statement of financial position nominal value for them.

$300,000 is incorrect. Dividends are only paid on issued share capital. You have assumed dividends are paid for all authorised share capital.