On May $1,2023,$ Culver Ltd$.$ issued $$519000,10$ year, $7\%$ bonds at $104.$ Twenty detachable warrants were attached to each $$1000$

bond, which entitled the holder to purchase one of Culver's no par value common shares for $$40.$ At this time, similar bonds without

warrants were selling at $96.$ It was determined that the fair value of Culver's common shares was $$36,$ but the value of the warrants

was NOT determinable. Culver is a private corporation that follows ASPE, but does NOT use the residual method. On May $1,2023,$

Culver should credit Contributed Surplus$-$Stock Warrants for

$$20760.$

$$36330.$

$$0.$

$$15570.$