a Company issued 10,000 shares of its $10 par value common stock having a fair value of $25 per share and 20,000, 10-years. 12$ par value, 8% coupon rate paid semiannually on June 30 and December 31 of each year. The fair value of bonds is unknown. The lump-sum sale price of the two securities was $520,000. How much of the proceeds would be allocated to the premium on bonds payable?

A. $240,000

B. $20,000

C. $270,000

D. None