On March 1, 2024, E Corporation issued $1,000,000 of 10% nonconvertible bonds at 104, due on February 28, 2034. Each $1,000 bond was issued with 39 detachable stock warrants, each of which entitled the holder to purchase, for $60, one share of E Corporation $30 par common stock. On March 1, 2024, the market price of each warrant was $6. By what amount should the bond issue proceeds increase shareholders equity?