Consider a bond with an equity warrant. The warrant entitles the bondholder to buy 25 shares of the issuer at 50 per share for the lifetime of the bond. The bond is a 30-year zero coupon bond with a 1,000 par value that has a yield to maturity of i = 6 percent. The price of the bond is 600. What is the value of the warrant?

		174.11
		425.89
		231.38
		none of the options