On April 7, 2017, Soweto Corp.sold a $1,000,000 (par value), 20 year, 8% bond issue for $1,060,000.Each $1,000 bond has two detachable warrants.Each warrant permits the purchase one of Soweto's no par value common shares for $30.At the time of the sale, Soweto's securities had the following market values:

Question

Quizplus · Accepted Answer

The Answer of On April 7, 2017, Soweto Corp.sold a $1,000,000 (par value), 20 year, 8% bond issue for $1,060,000.Each $1,000 bond has two detachable warrants.Each warrant permits the purchase one of Soweto's no par value common shares for $30.At the time of the sale, Soweto's securities had the following market values: