Sunland Company issued at a premium of $9700 a $191000 bond issue convertible into 3600 shares of common stock (par value $20). At the time of the conversion, the unamortized premium is $3800, the market value of the bonds is $211000, and the stock is quoted on the market at $60 per share. If the bonds are converted into common, what is the amount of paid-in capital in excess of par to be recorded on the conversion of the bonds?

$142800

$128700

$119000

$122800