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On May 1, 2021, Crane Company issued $1400000 of 6% bonds at 102, which are due on April 30, 2031. Twenty detachable stock warrants
On May 1, 2021, Crane Company issued $1400000 of 6% bonds at 102, which are due on April 30, 2031. Twenty detachable stock warrants entitling the holder to purchase for $40 one share of Crane's common stock, $15 par value, were attached to each $1.000 bond. The bonds without the warrants would sell at 95. On May 1, 2021, the fair value of Crane's common stock was $35 per share and of the warrants was $2. On May 1, 2021, Crane should credit Paid-in Capital from Stock Warrants for O $100897. $57697. O $56000. O $53497.
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