Question: On January 1 , 2 0 2 7 , $ 3 9 8 , 0 0 0 of debentures are converted into common stock, which

On January 1,2027, $398,000 of debentures are converted into common stock, which is then selling at $110. An additional $398,000 of debentures are converted on March 31,2027. The market price of the common stock is then $115. Accrued interest at March 31 will be paid on the next interest date.
On January 1 , 2 0 2 7 , $ 3 9 8 , 0 0 0 of

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