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ASAP please! thank you so much Determining values - Convertible bond Craig's Cake Company has an outstanding issue of 14-year convertible bonds with a $1,500

ASAP please! thank you so much
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Determining values - Convertible bond Craig's Cake Company has an outstanding issue of 14-year convertible bonds with a $1,500 par value. These bonds are convertible into 80 shares of common stock. They have a 15% annual coupon interest rate, whereas the interest rate on straight bonds of similar risk is 14% a. Calculate the straight bond value of this bond. b. Calculate the conversion (or stock) value of the bond when the market price is $18 per share of common stock c. What is the minimum market value of the bond? a. The straight value of the bond is $(Round to the nearest cent) Enter your answer in the answer box and then click Check Answer 2 parts remaining Cor All Check Ano

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