A convertible bond has a face value of $900 and a conversion price of $45 per share. The stock is currently selling at $32 per share. The bond pays $60 per year in interest and is selling in the market for $880. It matures in 6 years, and market rates are 8% annually.
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- AccountingThe face value of a bond is $3000.00. The firm offering the bond pays 1% of the sales price to the selling agency and will pay $300.00 to the buyer every year. The bond matures in ten years and the firm pays $3000.00 to the buyer at the end of the tenth year. What is the effective rate of return on this bond to the firm offering it?Harrimon Industries bonds have 4 years left to maturity. Interest is paid annually, and the bonds have a $1,000 par value and a coupon rate of 9%. What is the YTM at a current market price of $1,104?
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