Question: Gruenwald Corp. issues 1 0 , 0 0 0 , $ 1 , 0 0 0 face amount bonds. Each bond can be converted into

Gruenwald Corp. issues 10,000, $1,000 face amount bonds. Each bond can be converted into 25 shares of common stock. At the bond issue date, the company's common shares trade for $44 per share. At the date of issue, Gruenwald should recognize an addition to equity of
Multiple choice question.
$44,000.
$1,000,000.
$44,000,000.
$0.

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