uments 29. (LO 19.4) Straight preferred shares issued by a firm have a discount rate of 8 percent per year, whereas these shares are yielding 4 percent on the $25 par value. The conversion value of these shares is calculated to be $15. Determine the straight preferred value (SPV) and the floor value for the convertible preferred shares. Assume the shares have no maturity and can therefore be valued as a perpetuity