Randall and Arts Inc. is issuing new 17-year bonds with 29 warrants attached to each $1,000 par value bond. Randall and Arts Inc. wanted to issue the bonds at par, but a straight-debt bond (without warrants) would have required a 13.20% coupon rate. Instead, the attached warrants allow Randall and Arts Inc. to issue the bonds at par with a 7.92% coupon. Select the straight value of the bond and the value of each warrant in the following table. (Note: Assume that the company pays annual coupons.)

	Value
What is the straight value of the bond?
What is the value of each warrant?