Question
The bonds of Goniff Bank & Trust have a conversion premium of $36. Their conversion price is $20. The common stock price is $18.00. Assume
The bonds of Goniff Bank & Trust have a conversion premium of $36. Their conversion price is $20. The common stock price is $18.00. Assume each bond has a $1,000 par value. What is the price of the convertible bonds?
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
