On April 1, 2013, Austere Corporation issued $600,000 of 10% bonds at 105. Each $1,000 bond was sold with 25 detachable stock warrants, each permitting the investor to purchase one share of common stock for $6. On that date, the market value of the common stock was $4 per share and the market value of each warrant was $2. Austere should record what amount of the proceeds from the bond issue as an increase in equity?