Concord Corporation had two issues of securities outstanding common stock and an 8% convertible bond issue in the face amount of $15800000. Interest payment dates of the bond issue are June 30th and December 31st. The conversion clause in the bond indenture entitles the bondholders to receive forty shares of $20 par value common stock in exchange for each $1000 bond. On June 30, 2021, the holders of $2370000 face value bonds exercised the conversion privilege. The market price of the bonds on that date was $1100 per bond and the market price of the common stock was $34. The total unamortized bond discount at the date of conversion was $1000000. In applying the book value method, what amount should Concord credit to the account "pald.in capital in excess of par" as a result of this conversion? O $ 158000 O $711000 O $324000 O $1422000