Tim Howard Gloves issued 6.25% bonds with a face amount of $30 million, together with 16 million shares of its $1 par common stock, for a combined cash amount of $56 million. The fair value of Howard's stock cannot be determined. The bonds would have sold for $24 million if issued separately. For this transaction, Howard should record paid-in capital-excess of par in the amount of Multiple Choice $16 million $10 million $12 million $32 million