Multiple Choice
A convertible bond has a par value of $1,000 and a current market price of $1,105. The current price of the issuing firm's stock is $20, and the conversion ratio is 35 shares. The bond's market conversion value is
A) $700.
B) $810.
C) $870.
D) $1,000.
Correct Answer:
Verified
Correct Answer:
Verified
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