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6. Carl's Golf Course Maintenance Inc. had two issues of securities outstanding: common stock and a 6% convertible bond issue in the face amount of $12,000,000. Each $1,000 bond is convertible into forty shares of $20 par value common. On June 30,2022 , the holders of $1,800,000 face value bonds exercised the conversion privilege. The market price of the bonds on that date was $1,100 per bond and the market price of the common stock was $35. The total unamortized bond discount for all $12,000,000 face value of debt at the date of conversion was $750,000. What amount should Morgan credit to the account "APIC - Common Stock," as a result of this conversion? None of the other answers $247,500 $1,687,500 $427,500 $360,000