On May $1,2025,$ Pharoah Co$.$ issued $$1570000$ of $8\%$ bonds at $102.$ The bonds are due on April $30,2031.$ Twenty detachable stock

warrants entitling the holder to purchase for $$40$ one share of Pharoah's common stock, $$15$ par value, were attached to each $$1000$

bond. The bonds without the warrants would sell at $96.$ On May $1,2025,$ the fair value of Pharoah's common stock was $$35$ per share

and of the warrants was $$2.$

On May $1,2025,$ Pharoah will record a

discount of $$62800.$

discount of $$32656.$

premium of $$47100.$

discount of $$15700.$