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Elis [28]
3 years ago
6

On Friday Huron Investments stock closes at $5.35. The Huron Investments 8.125% Convertible debenture maturing September 13, 204

4 closes at 239.320. After the closing bell Huron Investments announces that the debenture will be called at 111.250. The debenture is convertible into common stock at $5 per share. A $1,000 bond is now worth?
Business
1 answer:
WITCHER [35]3 years ago
7 0

Solution:

Investment stock price = $5.35

Debenture is convertible at $5 per share

The worth of $1000 bond = (1000/5)*5.35 = $1070

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Answer:

<u>Client-based</u> structure.

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$54,000

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