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John Grisham has invested in a $1000 convertible bond issued by Microsoft Corporation. The conversion ration is 35 and the market price of the Microsoft common stock is $75/share. The coupon rate is 8 % paid annually until the maturity date 15 years from now. Similar bonds in the market are offering an YTM of 12%.
Question a) Calculate the conversion value of the Microsoft's convertible bond.
Question b) Calculate the straight value of the bond if interest is paid
I. Annually
II. Semi annually
III. Quarterly
Question c) If the bond is selling for $ 788 in the open market what is the yield to maturity of the bond today?
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On 1/1/2004 XYZ Corp. purchased a building for $550,000, paid closing costs of $12,500, and paid $37,500 to have the building prepared for use. Management of XYZ Corp.
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