Business, 26.02.2020 23:48 hairyears3394

Boyd Corp. issued $1,500,000 of 9% nonconvertible bonds at 107, due in 10 years. Each $1,000 bond was issued with 45 detachable stock warrants, each of which entitled the holder to purchase, for $70, one share of Boyd’s $40 par common stock. The market price of each warrant was $7. How much of the proceeds should be allocated to the warrants issued?

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Boyd Corp. issued $1,500,000 of 9% nonconvertible bonds at 107, due in 10 years. Each $1,000 bond wa...