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Tim Howard Gloves issued $4\mathrm{.}75\%$ bonds with a face amount of $$24$ million, together with $4$ million shares of its $$1$ par common stock, for a combined cash amount of $$44$ million. The fair value of Howard's stock cannot be determined. The bonds would have sold for $$18$ million if issued separately. For this transaction, Howard should record paid$-$in capital$-$excess of par in the amount of:

Multiple Choice

$$ $$16$ million.

$$ $$18$ million.

$$22$ million.

$$ $$26$