Tri-Slope has warrants outstanding in addition to its common stock. There are 5 million shares of stock and 1 million warrants. The stock is selling for $43 each and with each warrant you can buy a new share for $40. If the warrants expire in 6 months and the annual variance is .25 and the risk free rate is 4%, what is the value of a warrant using the Black Scholes model?

Question 6 options:

	$7.86
	$6.03
	$7.65
	$10.15
	$3