Question
The bonds of Goniff Bank & Trust have a conversion premium of $30. Their conversion price is $25. The common stock price is $20.20. Assume
The bonds of Goniff Bank & Trust have a conversion premium of $30. Their conversion price is $25. The common stock price is $20.20. 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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The Analysis And Use Of Financial Statements
Authors: Gerald I. White, Ashwinpaul C. Sondhi, Haim D. Fried
2nd Edition
0471111864, 978-0471111863
