Question
The bonds of Goniff Bank & Trust have a conversion premium of $36. Their conversion price is $15. The common stock price is $13.50. Assume
The bonds of Goniff Bank & Trust have a conversion premium of $36. 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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Public Finance
Authors: Charles Francis Bastable
1st Edition
1375520083, 978-1375520089
