Question
Assume that Almond Milk Company has a $1,000 face value bond with a stated coupon rate of 7.94 percent that is convertible into its common
Assume that Almond Milk Company has a $1,000 face value bond with a stated coupon rate of 7.94 percent that is convertible into its common stock at $35.02. The bond is selling at $1,025.35 in the market. The common stock is selling for $33.31 and pays a dividend of 0.95 per share. Calculate the payback premium period.
Please calculate the final answer to two decimal places.
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Financial Analysis With Microsoft Excel 2016
Authors: Timothy R. Mayes, Todd M. Shank
8th Edition
1337298042, 9781337298049
