USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)

question 22

Multiple Choice

USE THE INFORMATION BELOW FOR THE FOLLOWING PROBLEM(S)
BioTech Industries has debentures outstanding (par value $1,000) convertible into the company's common stock at $30. The coupon rate is 11 percent payable semiannually, and they mature in 10 years.
-Refer to Exhibit 16.9. At present, what would be the minimum value of the bond?

• A) $600.00
• B) $796.83
• C) $889.82
• D) $900.00
• E) $1000.00

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