On January 1, 2013, CMI issued $100,000,000 of 8% convertible bonds maturing December 31, 2032, at 105. T he bonds are convertible at the option of the bondholder into $1 par common 20 stock at a conversion ratio of 50 shares per $1,000 bond, CMI recently issued nonconvertible, year, 8% bonds at 98. 3.1 Record the issuance of the convertible bonds. 3.2 Assume that the bondholders exercised one-half of their option to convert the bonds into shares of stock when there was an unamortized discount/premium of $3,000,000 associated with the bonds, and the market price of the stock was $60. Record the conversion