Question
Culver Corporation is a regional company which is an SEC registrant. The corporation's securities are thinly traded on NASDAQ. Culver Corp. has issued 22,000 units.
Culver Corporation is a regional company which is an SEC registrant. The corporation's securities are thinly traded on NASDAQ. Culver Corp. has issued 22,000 units. Each unit consists of a $1,100 par, 12% subordinated debenture and 22 shares of $11 par common stock. The units were sold to outside investors for cash at $1,936 per unit. Prior to this sale, the 2-week ask price of common stock was $88 per share. Twelve percent is a reasonable market yield for the debentures, and therefore the par value of the bonds is equal to the fair value.in such a case how do I figure out using the proportional method,?
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