The Preferred Shares account has a balance of $ 100,000. There are 500 convertible preferred shares, each convertible to 4 common shares. On a day that the preferred shares have an average cost of $ 200 and a market value of $ 230, one half of the preferred shares are converted to common shares. Common shares are trading at $ 60. Which statement is true?

a. The Common Shares account will be credited for $ 57,500.

b. The Common Shares account will be credited for $ 60,000.

c. The Common Shares account will be credited for $ 100,000.

d. The Common Shares account will be credited for $ 50,000.