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On March 1, 2023, Flint Corp. sold $320000 (par value), 20 year, 9% bonds at 103 . Each $1000 bond was issued with 25 detachable
On March 1, 2023, Flint Corp. sold $320000 (par value), 20 year, 9% bonds at 103 . Each $1000 bond was issued with 25 detachable warrants, each of which entitled the bondholder to purchase for $50 one of Flint's no par value common shares. The bonds without the warrants would normally sell at 95 . At this time, the market value of Flint's common shares was $38 per share and the market value of each warrant was $2. Using the relative fair value method, what amount should Flint record on March 1, 2023 as Contributed Surplus -Stock Warrants? $16000$13480$10844$16480
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