Sunland Company has $4050000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible into 30 shares of $30 par value common stock. The bonds pay interest on January 31 and July 31. On July 31, 2021, the holders of $1250000 bonds exercised the conversion privilege. On that date the market price of the bonds was 106 and the market price of the common stock was $35. The total unamortized bond premium at the date of conversion was $288000. Sunland should record, as a result of this conversion, a
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The common stock of ncp paid $1.35 in dividends last year. dividends are expected to grow at an annual rate of 5.30 percent for an indefinite number of years. a. if ncp's current market price is $22.57 per share, what is the stock's expected rate of return? b. if your required rate of return is 7.3 percent, what is the value of the stock for you? c. should you make the investment? a. if ncp's current market price is $22.57 per share, the stock's expected rate of return is
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Sunland Company has $4050000 of 8% convertible bonds outstanding. Each $1,000 bond is convertible in...
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