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On March 1, Year 1, Evan Corp. issued $500,000 10% nonconvertible bonds at 103, due on February 28, Year 11. Each $1,000 bond was issued with 30 detachable stock warrants, each of which entitled the holder to purchase, for $50, one share of Evan's $25 par common stock. On March 1, Year 1, the market price of each warrant was $4. By what amount should the bond issue proceeds increase stockholders' equity?
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