Sheridan Corporation has the following shareholders equity on December 31, 2021:

Shareholders' equity
Share capital
$10 convertible preferred shares,
10,000 shares authorized, 5000 shares issued		$530000
Common shares, no par value,
200,000 shares authorized, 80000 shares issued		1800000
Total share capital		2330000
Retained earnings		453000
Total shareholders equity		$2783000

What is the dividend amount payable to preferred shareholders in 2021 assuming no shares are converted?

$1000000

$2000000

$800000

$50000