Question: On January 1 , 2 0 1 3 , Angle Products issued $ 2 4 , 0 0 0 of ten - year bonds at

On January 1,2013, Angle Products issued $24,000 of ten-year bonds at 98. These bonds were each convertible into ten shares of $100 par common stock. On January 1,2020, Angle converted two-thirds of these bonds when the common stock was selling at $130 a share. What would be the loss on bond conversion?

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