XYZ Inc issued 529 convertible bonds - each at a price of 103.39% of the $1,000 face value. At issuance, similar bonds without the conversion option had a price of 97.39% of the $1,000 face value. The convertible bonds have just been converted. The carrying value of the bonds on the conversion date is $517,440, and the company has paid $14,800 to the bondholders to induce early conversion. Using the book value method and IFRS, how much will the company's common share balance increase with conversion? a. $521,721 b. $507,992 c. $494,262 d. $535,451 e. $549,180