McGowan Corp. issued $100,000 of 8%, 10-year convertible bonds. Each $1,000 bond is convertible into 2 shares of common stock ($1 par value per share) of McGowan Corp. The bonds were sold at 97 on January 1, 2020. Assume that the conversion feature for 75% of the bonds is exercised on December 31, 2020, after McGowan Corp. made payments of $10,000 to shareholders to induce conversion. Assume that any discount or premium has been amortized through the date of conversion using the straight-line interest method. The common stock is selling at $80 per share on December 31, 2020. Upon conversion of 75% of the convertible bonds, McGowan Corp. would credit to Paid-in Capital- Common Stock for the following amount: A) $72,600 OB) $97,150 O C) $72,825 OD) $82,825