On September 1, 2025, Sunland Company sold 9,600 of its 10%, 15-year, $1,000 face value, nonconvertible bonds with detachable stock warrants at 102. Each bond carried three detachable warrants. Each warrant was for one share of common stock at a specified option price of $29 per share. Shortly after issuance, the warrants were quoted on the market for $2.30 each. No market value can be determined for the Sunland Company bonds. Interest is payable on December 1 and June 1.

Current Attempt in Progress On September 1,2025, Sunland Company sold 9,600 of its 10%,15-year, $1,000 face value, nonconvertible bonds with detachable stuck warrants at 102. Each bond carried three detachable warrants. Each warrant was for one share of common stock at a specified option price of $29 per share. Shortly after issuance, the warrants were quoted on the market for $2.30 each. No market value can be determined for the Sunland Company bonds. Interest is payable on December 1 and June 1