Shields Corporation sells $$5,000,000$ of $8\%$ convertible bonds on July $1,2014$ for $$5,350,000.$ The bonds mature on July $1,2029$ and pay interest semi$-$annually on July $1$ and December $31.$ Each $$1,000$ bond is convertible into $50$ common shares at the investor$$s option at maturity. The market $($yield$)$ rate is $9\%.$

 

 a$)$  Calculate the stated conversion price? $\mathrm{}$$$ 

 

 

 b$)$ Prepare the journal entry at issuance using the incremental method. $\mathrm{}$$$ 

 

 

 c$)$ Investor$$s decided to convert all of their bonds at maturity on July $1,2029$ after interest is paid. Record the conversion. $\mathrm{}$$$