1958 AHSME Problem 31

The altitude drawn to the base of an isosceles triangle is 8, and the perimeter 32. The area of the triangle is:

\textbf{(A)}\ 56\qquad \textbf{(B)}\ 48\qquad \textbf{(C)}\ 40\qquad \textbf{(D)}\ 32\qquad \textbf{(E)}\ 24

Full credit goes to MAA for authoring these problems. These problems were taken on the AOPS website.