Hudson Bay Fishing Corporation has just issued a 10-year, 9% annual-pay bond with a $1,000 face value.In addition, the bond was issued with 50 detachable warrants.The bond was issued at par.Each warrant gives the owner the right to purchase 2 shares of the company's stock for $15 each.Bonds with equivalent risk but with no attached warrants currently yield 11%.What is the value of one warrant?
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