On June $30,2021,$ Blair Industries had outstanding $$82$ million of $8\%$ convertible bonds that

mature on June $30,2022.$ Interest is payable each year on June $30$ and December $31.$ The

bonds are convertible into $6$ million shares of $$10$ par common stock. At June $30,2021,$ the

unamortized balance in the discount on bonds payable account was $$4$ million. On June $30,$

$2021,$ half the bonds were converted when Blair's common stock had a market price of $$44$

per share. When recording the conversion, Blair should credit paid$-$in capital$-$excess of par:

$$13$ million.

$$10$ million.

$$7$ million.

$$9$ million.