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Jacobs and Company has warrants outstanding, are selling at a $3 premium above intrinsic (or minimum) value. Each warrant allow its owner to purchase two

Jacobs and Company has warrants outstanding, are selling at a $3 premium

above intrinsic (or minimum) value. Each warrant allow its owner to purchase two

shares of common stock at S25. If the common stock currently sells for $28.50, what isthe warrant price?

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