Will Rate immediately (Please be 1000% sure its correct answer):

47. Convertible bonds: a. Have priority over other indebtedness. b. Are usually secured by a first or second mortgage c. Pay interest only in the event earnings are sufficient to cover the interest. d. May be exchanged for equity securities. 48. Fogel Co. has $4,000,000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1,280,000 bonds exercised the conversion privilege. On that date the market price of the bonds was 105 and the market price of the common stock was $36. The total unamortized bond premium at the date of conversion was $280,000. Eogel should record, as a result of this conversion, a: dos credit of $217,600 to Paid-in Capital in Excess of Par. credit of $192,000 to Paid-in Capital in Excess of Par. credit of $89,600 to Premium on Bonds Payable. loss of $12,800. 49. On January 1, 2021, Evans Company granted Tim Telfer, an employee, an option to buy 5,000 shares of Evans Co. stock for $25 per share for 5 years from date of grant. Using a fair value option pricing model, total compensation expense is determined to be $37,500. Telfer exercised his option on September 1, 2021, and sold his 5,000 shares on December 1, 2021. Quoted market prices of Evans Co. stock during 2021 were: January 1 $25 per share September 1 $30 per share December 1 $34 per share The vesting period is for three years beginning January 1, 2021. As a result of the option granted to Telfer, using the fair value method, Evans should recognize compensation expense for 2021 on its books in the amount of: a. $45,000. b. $37,500. c. $12,500. d. $7500