A bond with 10 detachable warrants has just been offered for sale at $1,000. The bond matures in 15 years and has an annual coupon of $120. Each warrant gives the owner the right to purchase two shares of stock in the company at $17 per share. Ordinary bonds (with no warrants) of similar quality are priced to yield 15 percent. What is the value of one warrant? Multiple Choice $17.54 $82.46 $21.05 $15.79