The company has decided to raise additional capital by selling $$100$ million of $8\%$ debentures with warrants attached.

Each $$1,000$ debenture will have $40$ warrants attached, and each warrant will entitle the holder to purchase one share of

common stock at $$20.$ Assume that no other changes in the capital structure occur between now and the time the warrants

are exercised. Determine the common stock at par account balance after exercise of the warrants.