Multiple Choice
The Ajax Corporation issues bonds that pay a minimum of 6% interest but that can pay more if corporate earnings reach certain specified levels.In lieu of payment under this bond,a holder may exchange it for stock of the corporation.This bond would be a:
A) callable income bond.
B) convertible participating bond.
C) convertible unsecured bond.
D) convertible secured bond.
Correct Answer:
Verified
Correct Answer:
Verified
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