On January 1, 20X5, Tiggly Inc. issued a $4,000,000, four-year, 3% convertible bond. Interest is paid semi-annually on June 30 and December 31. The market rate for similar non-convertible bonds when issued was 4%. Each $1,000 bond can be converted into 50 common shares. The total consideration received for the bonds was $4,150,000. What amount should be recorded to the reserves/contributed surplus account when recording the issuance of the bonds?

a.$146,510

b.$419,310

c.$296,510

d.$226,155