Maese Industries Inc. has warrants outstanding that permit the holders to purchase 1 share of stock per warrant at a price of $25. B) Assumes the firms stock now sells for $25/share.

The company wants to sell some 20-year, $ 1000 par value bonds with interest paid annually. Each bond will have attached 50 warrants, each exercisable into 1 share of stock at an exercise price of $25. The firms straight bonds yield 12%. Assume that each warrant will have a market value of $3 when the stock sells at $20. What coupon interest rate and dollar coupon must the company set on the bonds with warranty if they are to clear the market? (Hint: The convertible bond should have an initial price of $1,000).

Please show how to do this in Excel with formulas so I can do a new problem myself. Thank you in advance!