Pharoah Corporation has the following shareholders' equity on December 31, 2021: $650000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 5000 shares issued Common shares, no par value, 200,000 shares authorized 80000 shares issued Total share capital Retained earnings Total shareholders' equity 1600000 2250000 441000 $2691000 What is the dividend amount payable to preferred shareholders in 2021 assuming no shares are converted? $50000 O $1000000 0000 O $2000000