Pina Colada Corporation has the following shareholders' equity on December 31, 2021: $500000 Shareholders' equity Share capital $10 convertible preferred shares, 10,000 shares authorized, 4000 shares issued Common shares, no par value, 200,000 shares authorized, 80000 shares issued Total share capital Retained earnings Total shareholders' equity 1500000 2000000 440000 $2440000 If 400 preferred shares are converted into common shares what is the dollar value of the common shares issued? O $11000 O $50000 O $7500 O $40000