China Corporation has the following shareholders' equity on December 31, 2021: Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5,000 shares issued $ 570,000 Common shares, no par value, 200,000 shares authorized, 90,000 shares issued 1,800,000 Total share capital 2,370,000 Retained earnings 450,000 Total shareholders' equity $2,820,000 If 500 preferred shares are converted into common shares, what is the dollar value of the common shares issued? Select one: A. $57,000 B. $9,000 C. $50,000 D. $10,000