On May 1, 2016, Payne Co. issued $300,000 of 7% bonds at 103, which are due on April 30, 2026. Twenty detachable share warrants entitling the holder to purchase for $40 one share of Payne's ordinary shares, $15 par value, were attached to each $1,000 bonD. The bonds without the warrants would sell at 96. On May 1, 2016, the fair value of Payne's shares was $35 per share and of the warrants was $2. On May 1, 2016, Payne should credit Share Premium -Share Warrants for Select one: a. $21,000. b. $12,360. c. $12,000. d. $9,000