Upstate water company just sold a bond with 50 warrants, Accounting Basics

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Upstate water company just sold a bond with 50 warrants

Upstate Water Company just sold a bond with 50 warrants attached. The bonds have a 20-year maturity and an annual coupon of 12%, and they were issued at their $1,000 par value. The current yield on similar straight bonds is 15%. What is the implied value of each warrant

(a) $3.76

(b) $3.94

(d) $4.35

(e) $4.56

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Accounting Basics: Upstate water company just sold a bond with 50 warrants

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Accounting Basics: Upstate water company just sold a bond with 50 warrants

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