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Question - Determining values-Convertible bond - Craig's Cake Company has an outstanding issue of 11-year convertible bonds with a $1,000 par value. These bonds are convertible into 90 shares of common stock. They have a 15% annual coupon interest rate, whereas the interest rate on straight bonds of similar risk is 11%.
Required -
a. Calculate the straight bond value of this bond.
b. Calculate the conversion (or stock) value of the band when the market price is $19 per share of common stock.
c. What is the minimum market value of the bond?
Calculate the number and cost of goods available for sale. Calculate the number of units in ending inventory. Calculate the cost of ending inventory and cost of goods sold using the (a) FIFO, (b) LIFO, and (c) weighted average cost methods.
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