Question
The bonds of Goniff Bank & Trust have a conversion premium of $38. Their conversion price is $15. The common stock price is $13.50. Assume
The bonds of Goniff Bank & Trust have a conversion premium of $38. Their conversion price is $15. The common stock price is $13.50. Assume each bond has a $1,000 par value.
What is the price of the convertible bonds? (Do not round intermediate calculations and round your answer to 2 decimal places.)
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Gapenskis Understanding Healthcare Financial Management
Authors: George H. Pink, Paula H. Song
8th Edition
1640551093, 978-1640551091
