On January 1 , 2 0 1 8 , when its $ 3 0 par value common
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On January when its $ par value common stock was selling for $ per share, a corporation issued $ million of convertible debentures due in years. The conversion option allowed the holder of each $ bond to convert it into six shares of the corporations $ par value common stock. The debentures were issued for $ million. At the time of issuance, the present value of the bond payments was $ million, and the corporation believes the difference between the present value and the amount paid is attributable to the conversion feature. On January the corporations $ par value common stock was split for On January when the corporations $ par value common stock was selling for $ per share, holders of of the convertible debentures exercised their conversion options. The corporation uses the straightline method for amortizing any bond discounts or premiums
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