to page ... Page view AV Read aloud h. Add notes 7. (LO 19.4) Orion's Belt Mining Co. has 12 million common shares outstanding, which are currently trading for $5. In addition, the company has issued two million share pur- chase warrants with a strike price of $4.25 that are just about to expire. a. Determine the equity value of the firm before the warrants are exercised. b. What is the total cost to the warrant holders to purchase the new shares? c. Calculate the value of the shares that the holders of the warrants will own after they are exercised. d. What is the payoff to warrant holders? How much would you be willing to pay for each warrant? 8:49 PM