On January $1,2018,$ when its $$30$ par value common stock was selling for $$80$ per share, a corporation issued $$10$ million of $14\%$ convertible debentures due in $10$ years. The conversion option allowed the holder of each $$1,000$ bond to convert it into six shares of the corporation$$s $$30$ par value common stock. The debentures were issued for $$11$ million. At the time of issuance, the present value of the bond payments was $$8\mathrm{.}50$ million, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January $1,2019,$ the corporation$$s $$30$ par value common stock was split $3$ for $1.$ On January $1,2020,$ when the corporation$$s $$10$ par value common stock was selling for $$90$ per share, holders of $40\%$ of the convertible debentures exercised their conversion options. The corporation uses the straight$-$line method for amortizing any bond discounts or premiums