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02-01-2020
Business

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On Friday Huron Investments stock closes at $5.35. The Huron Investments 8.125% Convertible debenture maturing September 13, 2044 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?

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letmeanswer letmeanswer

14-01-2020

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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