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Question 19 2.5 pts Cherry Corp. sold $200,000 of 12% bonds at par. Each $1,000 bond carried 10 detachable warrants, each of which allows the
Question 19 2.5 pts Cherry Corp. sold $200,000 of 12% bonds at par. Each $1,000 bond carried 10 detachable warrants, each of which allows the holder to acquire one share of $10 par common stock for $30 per share. After issuance, the bonds were quoted at 99 ex rights, and the warrants were quoted at $4 each. Cherry Corp. should have assigned to the rights a value of : $7,767 $8,000 $5,882 $7,500
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