Multiple Choice
A convertible bond has a par value of $1,000 and a current market price of $975. The current price of the issuing firm's stock is $42, and the conversion ratio is 22 shares. The bond's market conversion value is
A) $729.
B) $924.
C) $870.
D) $1,000.
Correct Answer:
Verified
Correct Answer:
Verified
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