Bramble Ltd reported Long$-$Term Liabilities and Shareholders' Equity in its December $31,2024$ Balance Sheet as follows:

Long Term Liabilities:

Bonds Payable

$$2,000,000$

$6\%$ interest, convertible to $40$ common shares $\frac{?}{?}$$$1,000$ bond

Bonds Payable

$$5,400,000$

$9\%$ interest, convertible to $40$ common shares $\frac{?}{?}$$$1,000$ bond

Shareholders' Equity:

Class A Preferred shares

no par value, $$3$ dividend, cumulative,

each preferred share convertible into $8$ common shares, $250,000$ authorized, issued and outstanding

$$2,000,000$

Class B Common shares

No$-$par, $2,700,000$ authorized, issued and outstanding

$$5,400,000$

All of the above reported bonds payable, preferred shares and common shares were outstanding throughout fiscal $2024.$ No transactions involving the bonds payable, preferred shares or common shares occurred during fiscal $2024,$ except for interest on the bonds payable. The bonds payabl$$ were all issued and sold at par. Preferred dividends had not been declared in fiscal $2023.$

Bramble also had Class $B$ common stock written call options to purchase $90,000$ common shares at $$5\mathrm{.}00$ per share outstanding throughout fiscal $2024.$ No stock options were exercised during fiscal $2024.$

The fair market value of Bramble's common shares was $$9\mathrm{.}00$ per share throughout fiscal $2024.$ Bramble's income tax rate is $15\%.$

The weighted average of common shares outstanding for $2024$ was $2,700,000,$ and Bramble earned net income of $$4,530,000.$

$($a$)$

Calculate the income effect of the dividends on the preferred shares.

Dividends on preferred shares

$