Neubert Enterprises recently issued $1,000 par value 15-year bonds with a 5% coupon paid annually and warrants

Question:

Neubert Enterprises recently issued $1,000 15-year bonds with a 5% paid annually and warrants attached. These bonds are currently trading for $1,000. Neubert also has outstanding $1,000 15-year straight debt with a 7% paid annually, also trading for $1,000. What is the implied value of the warrants attached to each bond?
Coupon
A coupon or coupon payment is the annual interest rate paid on a bond, expressed as a percentage of the face value and paid from issue date until maturity. Coupons are usually referred to in terms of the coupon rate (the sum of coupons paid in a... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...