two issues of securities outstanding: common stock and $5,500,000 face value, 5-year, 3% convertible bonds which were issued January 1, 2019 when the market rate was 4%. Bond interest payments dates are June 30 and December 31. Each Bond is convertible into 40 shares of $20 par value common stock . On July 1, 2019 the holders of $1,100,000 face value exercise the conversion privilege . On the date, the bonds were selling at 110 and the market price of the stock was $35. The company uses the effective interest method for amortization of the of the bond premium.

What is the amount to be "Paid -in-Capital for Common Stock" on July 1, 2019?