On March 1, 2016, Ruiz Corporation Issued $800,000 of 8

On March 1, 2016, Ruiz Corporation issued $800,000 of 8% nonconvertible bonds at 104, which are due on February 28, 2036.In addition, each $1,000 bond was issued with 25 detachable share warrants, each of which entitled the bondholder to purchase for $50 one share of Ruiz ordinary shares, par value $25.The bonds without the warrants would normally sell at 95.On March 1, 2016, the fair value of Ruiz's ordinary shares was $40 per share and the fair value of the warrants was $2.What amount should Ruiz record on March 1, 2016 as share premium-share warrants?

A) $40,000
B) $41,600
C) $72,000
D) $83,200