Vaughn 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		$590000
Common shares, no par value,
200,000 shares authorized, 100000 shares issued		1500000
Total share capital		2090000
Retained earnings		455000
Total shareholders equity		$2545000

If 430 preferred shares are converted into common shares what is the dollar value of the common shares issued?

$50740

$50000

$6450

$10581