On March 1, 2018, E Corp. issued $1,000,000 of 10%nonconvertible bonds at 103, due on February 28, 2028. Each $1,000bond was issued with 30 detachable stock warrants, each of whichentitled the holder to purchase, for $50, one share of Evan's $25par common stock. On March 1, 2018, the market price of eachwarrant was $4. By what amount should the bond issue proceedsincrease shareholders' equity?
