During its current fiscal year, ING Co. issued bonds with a face amount of $1 million for 104. One detachable stock warrant was attached to each of the $1,000 bonds, and each warrant permits the bearer to purchase 10 shares of INGs common stock at $18 per share. The market price of the stock is currently $22 per share. Each bond has a fair value of $965 without a warrant, and each warrant trades for $40. The amount of the bond proceeds allocated to equity is approximately

A. $75,000

B. $40,000

C. $43,109

D. $41,393