Bonds payable 8 year 85 nonconvertible 15000000the bonds, Ask an Expert

Finance

Bonds Payable (8 year, 8.5%, nonconvertible)=$ 15,000,000

The Bonds Payable (8.5%) are dated January 1, 2008 and were sold at 97.5 (plus the market value of the detachable warrants) on the same day. Corbin, Co amortizes the discount on the straight-line method and pays interest annually on December 31. Each $1,000 bond comes with two detachable warrants. Each warrant is for one share of common stock at a specified option price of $20 per share.

On January 1, 2008, what was the market price of one detachable warrant (on the 8.5% bonds)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92081960

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