The CCC Venture has issued convertible preferred stock to its venture investors.

Question

The CCC Venture has issued convertible preferred stock to its venture investors. Each share of preferred stock is convertible into 0.80 share of common stock and pays an annual cash dividend of $0.25.


A. If each share of preferred stock has a market value of $4, what is the minimum price that a share of the CCC Venture

Explanation / Answer

t_n = (s_1 + … + s_n)/n Given e > 0, since lim s_n = L there is a number N so that whenever n > N you have |s_n – L | = K you have |t_n – L| = |(s_1 + … + s_n – nL)|/n = |s_1 + .. + s_N – NL – (n-N)L + [the sum of s_k, for n

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