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The current market price of a share of common stock of SkyHigh, Inc. is $100. The company had issued warrants earlier to its new bond

The current market price of a share of common stock of SkyHigh, Inc. is $100. The company had issued warrants earlier to its new bond investors that gave the investors an option to buy five shares of common stock at an exercise price of $85. Calculate the exercise value of a warrant.

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