23. A step-up in the conversion price refers to The ability of the company to step-up the maturity of the bond to an earlier date The provision that decreases the conversion ratio the longer a convertible bond Is held A refunding of a convertible bond when the conversion value equals the pure bond value None of these options are true A. B. C. D. 24. Rocky Scholes Swimwear's warrant is trading for $18.00. The warrant carries the option to purchase a share of stock for $50. What is the speculative premium if the stock price is $65? A. $1.00 B. $3.00 C. $5.00 D. $11.00 25. Cambridge Corp. warrants carry the right to buy 10 shares of Cambridge common stock at $11.00 per share. The common stock has a current market price of $11.75 per share. What is the intrinsic value of one Cambridge warrant? A.$0 B. $1.50 . $15 D. $7.50