Question: On janurary 1 , 2 0 2 4 when its $ 3 0 par value common stock was selling for $ 8 0 per share,

On janurary 1,2024 when its $30 par value common stock was selling for $80 per share, Blue Corp., issue $12,200,000 of 8% convertible debentures due in 20 years. The Conversin option allowed the holder of each $1,000 bond to convert the bond into five shares of coporations common stock. The debentures were issued for $13,176,000

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