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dmitriy555 [2]
3 years ago
6

Slater Mines just called its outstanding bonds at a call price of $1,025. The bonds have a conversion price of $33.33 and a par

value of $1,000. The stock price is currently $33.10. In response to this call, the bondholders should _____ because _____.
Business
1 answer:
Kazeer [188]3 years ago
5 0

Answer:

In response to this call, the bondholders should Accept the call as call price exceeds the conversion value

Explanation:

Number of shares (if bonds are converted) = par value/conversion price = 1,000/33.33 = 30 shares

Current value of 30 shares = 30*current share price = 30*33.10 = $993.10

Call price of $1,025 is greater than the current value of converted bonds, so bondholders should accept the call

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Explanation:

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