BS Ltd. is a public corporation and issues $200,000 8% convertible three-year bonds for $224,000. Each $2,000 bond is convertible at the option of the investor into 20 no-par value common shares of BS Ltd. on maturity. At the date of issue, similar type non-convertible bonds of BS Ltd. are selling for $204,000. The contributed capital-conversion rights recorded on issue is:(3 marks)

A.$24,000

B.$20,000

C.$4,000

D.$0