On March 1, 2020, Rabat Corp. sold $ 300,000 (par value), 20 year, 8% bonds at 104. Each $ 1,000 bond was issued with 25 detachable warrants, each of which entitled the bondholder to purchase for $ 50 one of Rabats no par value common shares. The bonds without the warrants would normally sell at 95. At this time, the market value of Rabats common shares was $ 40 per share and the market value of each warrant was $ 2.00. Using the relative fair value method, what amount should Rabat record on March 1, 2020 as Contributed SurplusStock Warrants?

Select one:

a. 10,800

b. 15,600

c. 15,000

d. 12,600