Bramble Corp. has $3960000 of 9% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par

Bramble Corp. has $3960000 of 9% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1250000 bonds exercised the conversion privilege. On that date the market price of the bonds was 106 and the market price of the common stock was $37. The total unamortized bond premium at the date of conversion was $289000. Bramble should record, as a result of this conversion, a


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