Kingbird Corporation has the following shareholders' equity on December 31, 2024: Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 4000 shares issued $500000 Common shares, no par value, 200,000 shares authorized, 90000 shares issued 1900000 Total share capital 2400000 Retained earnings 449000 Total shareholders' equity $2849000 If one preferred share is convertible into 10 common shares, how many common shares are issued when 530 preferred shares are converted?