Exhibit 23.5 Use the Information Below for the Following Problem(S)

Multiple Choice

Exhibit 23.5
Use the Information Below for the Following Problem(S)
Exclusive Industries has debentures outstanding (par value $1,000.00) convertible into exclusive's common stock at $30. The coupon rate is 11% payable semiannually and they mature in 10 years.
-Refer to Exhibit 23.5.Calculate the conversion value if the stock price is $24.00 per share.

A) $600.00
B) $700.00
C) $800.00
D) $900.00
E) $1,000.00