Question 17 On July 1, 2021, Nall Co. issued 2.500 shares of its $10 par common stock and 5,000 shares of its $10 per convertible preferred stock for a lump sum of $130,000. At this date Nails common stock was selling for $27 per share and the convertible preferred stock for $22 per share. The amount of the proceeds allocated to Nail's preferred stock O $65,000 $78.242 O 80,563 $72,000