on july $1,2025,$ an interest payment date, $$150000$ of cullumber co$.$ bonds were converted into $2970$ shares of cullumber co$.$ common stock, each having a par value of $$45$ and a market value of $$56.$ There is $$6000$ of unamortized discount on the bonds. If the book value method is used, cullumber would recordOn July $1,2025,$ an interest payment date, $$150000$ of Cullumber Co$.$ bonds were converted into $2970$ shares of Cullumber Co$.$

common stock, each having a par value of $$45$ and a market value of $$56.$ There is $$6000$ of unamortized discount on the bonds.

If the book value method is used, Cullumber would record

no change in paid$-$in capital in excess of par.

a $$16320$ increase in paid$-$in capital in excess of par.

an $$22320$ increase in paid$-$in capital in excess of par.

a $$10350$ increase in paid$-$in capital in excess of par.