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Compute the total proceeds allocated to the stock warrants

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Reference no: EM132510410

Question - On August 1, 2021Missouri Corporation issued $10 million of 8% nonconvertible bonds at 104. The bonds mature in 20 years. Each $1,000 bond was issued with 20 detachable stock warrants. Each warrant entitles the holder to purchase, for $50, one share of Missouri Corporation's $1 par common stock. On August 1, 2021, the market value per share for Missouri's stock was $46 and the market value of each warrant was $6. The market price of the bonds cannot be clearly determined. Compute the total proceeds allocated to the stock warrants?

Reference no: EM132510410

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