Litke Corporation issued at premium of $10,000 a 200,000 bond issue convertiable into 4000 shares of common stock ( par value 20) At the time of the conversion the unamortized premium is 4000 the market value of bonds is 220,000 and the stock quote on the market at 60 per share If the bonds are converted into common what is the amount of the paid in capital in excess of par to be recorded on the conversion of the bonds

A 130,000

b 124,000

c 144,000

d 120,000