1. On May 1, 2021, Marley Co. issued $2,500,000 of 7% bonds at 103, which are due on April 30, 2031. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Marleys common stock, $15 par value, were attached to each $1,000 bond. The bonds without the warrants would sell at 96. On May 1, 2021, the fair value of Marleys common stock was $35 per share and of the warrants was $2.

   On May 1, 2021, Marley should credit Paid-in Capital from Stock Warrants for

   	a.	$ 96,000
   	b.	$175,000
   	c.	$103,000
   	d.	$100,000