At the start of the year, Shamrock Company issued $ of bonds along with detachable warrants to buy
shares of its $ par value common stock at $ per share. The bonds mature over the next years, starting one year from date of
issuance, with annual maturities of $ At the time, Shamrock had shares of common stock outstanding. The
company received $ for the bonds and the warrants. For Shamrock Company, was a relatively low borrowing rate. If
offered alone, at this time, the bonds would have sold in the market at a discount.
