The Tramot Corporation has $1,500,000 of 6 percent $1,000 bonds outstanding. There is $30,000 of unamortized discount remaining on the bonds after the March 1, 2011, semiannual interest payment. The bonds are convertible at the rate of 20 shares of $10 par value common stock for each $1,000 bond. On March 1, 2011, bondholders presented $900,000 of the bonds for conversion.