Many warrants were initially issued attached to bonds. They were subsequently detached and traded separately from the bonds. In some cases, the bond could be used in lieu of cash to exercise the warrant. Suppose a warrant is the option to buy stock at $10 a share ($1,000 for 100 shares). Currently the stock is selling for $13 ($1,300 for 100 shares), the bond is selling for $700, and the warrant to buy a share is selling for $4. What would you do and why would you do it?