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Expiration value of warrants

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The Clayton Corporation has warrants outstanding that permits the holder to purchase one share of common stock per warrant at $30. What is the expiration value of Clayton's warrants if the common stock is currently selling at $20 per share? Please show the method of arriving at the answer.

The name of the book this question comes from is the 13th edition of Financial Management, Theory and Practice by Brigham Ehrhardt

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This solution shows how to calculate the expiration value of warrants.

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The Clayton Corporation has warrants outstanding that permits the holder to purchase one share of common stock per warrant at $30. What is the expiration value of Clayton's warrants if the common stock is currently selling at $20 per share? Please show the method of arriving at the ...

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