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Sun corp issues $100,000 convertible bonds at a premium. Bonds are convertible into 2,000 shares of common stock (par$40). At the time of conversion, the

Sun corp issues $100,000 convertible bonds at a premium. Bonds are convertible into 2,000 shares of common stock (par$40). At the time of conversion, the bonds have a FMV of $110,000, common stock has a FMV of $60 per share and unamortized premium on bonds is $2,000. What is the amount of paid in capital in excess of par on common stock upon coversion?

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