Strorm Software wants to issue $110 million ($1,100 x 100,000 bonds) in new capital to fund new opportunities. If Storm raised the $110 million of new capital in a straight-debt 20-year bond offering, Storm would have to offer an annual coupon rate of 13%. However, Storm's advisers have suggested a 20-year bond offering with warrants. According to the advisers, Storm could issue 9% annual coupon-bearing debt with 22 warrants per $1,100 face value bond. Storm has 10 million shares of stock outstanding at a current price of $30. The warrants can be exercised in 10 years (on December 31, 2025) at an exercise price of $35. Each warrant entitles its holder to buy one share of Storm Software stock. After issuing the bonds with warrants, Storm's operations and investments are expected to grow at a constant rate of 12.4% per year.

1. If investors pay $1,100 for each bond, what is the value of each warrant attached to the bond issue? _______Round your answer to the nearest cents
2. What is the component cost of these bonds with warrants?_________ Round your answer to two decimal places.
3. What premium is associated with the warrants? ___________Round your answer to two decimal places.