Calculating Warrant Values A bond with 15 detachable warrants has just been offered for sale at $1,000.00 . The bond matures in 25 years and pays a semi-annual coupon of $50 ($25.00 each six months). Each warrant gives the owner the right to purchase two shares of stock in the company at $45.00 per share. Ordinary bonds (with no warrants) of similar quality are priced to yield 7.00 percent. What is the value of one warrant