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On March 1, 2025, Cullumber Corporation issued $1920000 of 8% nonconvertible bonds at 104. The bonds are due on February 28. 2041. In addition, each

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On March 1, 2025, Cullumber Corporation issued $1920000 of 8% nonconvertible bonds at 104. The bonds are due on February 28. 2041. In addition, each $1000 bond was issued with 25 detachable stock warrants, each of which entitled the bondholder to purchase one share of Cullumber $25 par value common stock for $50. The bonds without the warrants would sell at 95. On March 1,2025. the fair value of Cullumber's common stock was $40 per share and the fair value of the warrants was $2 per stock warrant. What anount shoudd Cullumber record on March 1. 2025 as paid-in capital from stock warrants? 581040 $70240 $99840 $96000

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