11.

On May 1, 2021, Crane Company issued $1540000 of 6% bonds at 102, which are due on April 30, 2031. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Cranes common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 95. On May 1, 2021, the fair value of Cranes common stock was $35 per share and of the warrants was $2. On May 1, 2021, Crane should credit Paid-in Capital from Stock Warrants for

$59267.

$106667.

$63467.

$61600.