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1. Consider a 15-year bond with 15 warrants. Each warrant has a strike price of $30 and 10 years until expiration. Each warrant value is estimated to be $6. The yield to maturity of a 15-year bond without warrants is 12%. What coupon rate must be set on the bond with warrants to make the total package sell for $1,000?
12%
13.75%
11.50%
10.68%
2. There are four types of hybrid securities: Preferred stock, Class A common stock, warrants, and convertibles.
True
False
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