Bradley-link’s december 31, 2021, balance sheet included the following items: long-term liabilities ($ in millions) 9.6% convertible bonds, callable at 101 beginning in 2022, due 2025 (net of unamortized discount on $2) [note 8] $198 10.4% registered bonds callable at 104 beginning in 2031, due 2035 (net of unamortized discount on $1) [note 8] 49 shareholders’ equity 4 equity—stock warrants. Prepare the journal entry to record the exercise of the warrants in December 2021

Wo firms, a and b, each currently dump 50 tons of chemicals into the local river. the government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. it costs firm a $100 for each ton of pollution that it eliminates before it reaches the river, and it costs firm b $50 for each ton of pollution that it eliminates before it reaches the river. the government gives each firm 20 pollution permits. government officials are not sure whether to allow the firms to buy or sell the pollution permits to each other. what is the total cost of reducing pollution if firms are not allowed to buy and sell pollution permits from each other? what is the total cost of reducing pollution if the firms are allowed to buy and sell permits from each other? a. $3,000; $1,500 b. $4,500; $3,500 c. $4,500; $4,000 d. $4,500; $2,500