On April 1, 2018, Austere Corporation issued $360,000 of 10% bonds at 108. Each $1,000 bond was sold with 40 detachable stock warrants, each permitting the investor to purchase one share of common stock for $17. On that date, the market value of the common stock was $14 per share and the market value of each warrant was $3. Austere should record what amount of the proceeds from the bond issue as an increase in liabilities?

Multiple Choice

• $0.
• $345,600.
• $270,100.
• $470,900.