If Jim's suggestion will work I find it works best and easiest.
Otherwise a left-handed twist bit and bolt extractor would be my next suggestion. Make sure you center punch the bolt.
Since most hand drills now have a reverse find the proper sized extractor for the bolt and proper sized left-handed bit for the extractor.
If the bolt isn't rusted tight the bit will get it turning and draw it out.....at least enough to grab with some vise grips. If it is the extractor will be needed.
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