Warrants

Pogue Industries Inc. has warrants outstanding that permit its holders to purchase 1 share of stock per warrant at a price of $15. (Refer to Chapter 18 for parts a, b, and c.)

Calculate the exercise value of Pogue's warrants if the common stock sells at each of the prices given below. Round your answers to two decimal places.

Ps	Exercise value
$18	$
$21	$
$25	$
$70	$

At what approximate price do you think the warrants would actually sell under each condition given below? Round your answers to two decimal places. Ps Warrant Premium $18 $ $4.50 $21 $ $3.00 $25 $ $1.50 $70 $ $1.00