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BBB Company has a 1 5 years - to - maturity, 7 . 1 % annual coupon bond - with - warrants currently sells for

BBB Company has a 15 years-to-maturity, 7.1% annual coupon bond-with-warrants currently sells for $960. Each bond has 60 warrants attached to it. BBB also has a 15 years-to-maturity straight bond (no warrants) with 8% annual coupon selling for $900. Both bonds have par values =$1,000. What is the current value of each warrant? (Hint: Calculate the straight bond yield first, then the value of the straight bond part of the BwW.)
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