Coronado Industries issued at a premium of $10900 a $190000 bond issue convertible into 3100 shares of common stock (par value $20). At the time of the conversion, the unamortized premium is $3500, the market value of the bonds is $210000, and the stock is quoted on the market at $60 per share. If the bonds are converted into common, what is the amount of paid-in capital in excess of par to be recorded on the conversion of the bonds?

$151500

$128000

$131500

$138900