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On December 1 , 2 0 1 9 , McAllister Company issued at 1 0 3 , four hundred fifty of its 9 % ,

On December 1,2019, McAllister Company issued at 103, four hundred fifty of its 9%, $1,000 bonds. Attached to each bond was one detachable stock warrant entitling the holder to purchase 10 shares of McAllister's common stock. On December 1,2019, the market value of the bonds, without the stock warrants, was 92, and the market value of each stock purchase warrant was $80. Calculate the amount of the proceeds from the issuance that should be accounted for as the initial carrying value of the bonds and the warrants (use the grid below for calculations):

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