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  3. in june 2010, microsoft corporation had a converti

In June 2010, Microsoft Corporation had a convertible bond issue outstanding. Each bond, with...

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Accounting

In June 2010, Microsoft Corporation had a convertible bond issue outstanding. Each bond,
with a face value of $1,000, could be converted into common shares at a rate of 29.9434
shares of stock per $1,000 face value bond (the conversion rate), or $33.40 per share. In
June 2010, Microsofts common stock was trading (on the NASDAQ) at $25.11 per share
Calculate
The conversion value of the bonds

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