Jacobs Corporation has the following shareholders' equity on December 31, 2017: $570,000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5,000 shares issued Common shares, no par value, 200,000 shares authorized, 90,000 shares issued Total share capital Retained earnings Total shareholders' equity 1,800,000 2,370,000 450,000 $2,820,000 If 500 preferred shares are converted into common shares what is the dollar value of the common shares issued? $50,000 O $57,000 $10,000 $9,000