Question
The bonds of Goniff Bank & Trust have a conversion premium of $90. Their conversion price is $12.50. The common stock price is $10.25. The
The bonds of Goniff Bank & Trust have a conversion premium of $90. Their conversion price is $12.50. The common stock price is $10.25. The bond maturity value is $1,000.
Required:
What is the price of the convertible bonds?
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Financial Management Principles And Applications
Authors: J William Petty, Sheridan Titman, Arthur J Keown, John D Martin, Peter Martin, Michael Burrow, Hoa Nguyen
6th Edition
1442539178, 9781442539174
