On March 1, 2021, Bonita Industries issued $2090000 of 8% nonconvertible bonds at 104, which are due on February 28, 2041. In addition, each $1000 bond was issued with 25 detachable stock warrants, each of which entitled the bondholder to purchase for $50 one share of Bonita common stock, par value $25. The bonds without the warrants would normally sell at 95. On March 1, 2021, the fair value of Bonita’s common stock was $40 per share and the fair value of the warrants was $2. What amount should Bonita record on March 1, 2021 as paid-in capital from stock warrants?

a. $89880

b.$104500

c.$78280

d.$108680