SkysongMerchandising Inc. had the following share capital and balances on January 1, 2021.

$2.50 cumulative preferred shares, convertible into common shares at a ratio of 4 common shares for 1 preferred share,

unlimited number of shares authorized,130,000shares issued$2,093,000Common shares, unlimited number of shares authorized,850,000shares issued2,975,000

The following transactions relating to shares occurred in 2021 and 2022.

Mar31,

2021Skysongdeclared total annual dividends of $780,000for shareholders of record on April 1, 2021. There were no dividend arrears at January 1, 2021.April

30,2021Skysongpaidthe dividends owing.July10,

2021Shareholders converted25,000preferred shares into common shares. The fair value per preferred share was $17.40; per common share, $4.70.Feb.20,2022Skysongdeclared an annual dividend of $640,000to shareholders of record on March 1, 2022.Mar.5,2022Skysongpaid $340,000of the dividendsowing.July15,2022Shareholders converted50,000preferred shares into200,000common shares. The fair value per preferred share was $16.40; per common share, $5.20.

Calculate the averageper share amountof the preferred and common sharesat January 1, 2021