On December 1, 2016, Lester Company issued at 103, two hundred of its 9%, $1,000 bonds. Attached to each bond was one detachable share warrant entitling the holder to purchase 10 shares of Lester's ordinary shares. On December 1, 2016, the fair value of the bonds, without the share warrants, was 95, and the fair value of each share warrant was $50. The amount of the proceeds from the issuance that should be accounted for as the initial carrying value of the bonds payable would be