Herbert engineering is issuing new 15-year bonds that have, Financial Management

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Herbert engineering is issuing new 15-year bonds that have

Herbert Engineering is issuing new 15-year bonds that have warrants attached. If not for the attached warrants, the bonds would carry a 9% annual interest rate. However, with the warrants attached the bonds will pay a 6% annual coupon. There are 30 warrants attached to each bond, which has a par value of $1,000. What is the value of the straight-debt portion of the bonds?

A. $720.27

B. $758.18

C. $796.09

D. $835.89

E. $877.69

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Financial Management: Herbert engineering is issuing new 15-year bonds that have

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Financial Management: Herbert engineering is issuing new 15-year bonds that have

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