Multiple Choice
The holders of Xenron Corporation's bond with a face value of $1,000 can exchange that bond for 35 shares of stock. The stock is selling for $22.00. What is the conversion value of the bond?
A) $25
B) $40
C) $770
D) $1,000
E) No conversion premium is given.
Correct Answer:
Verified
Correct Answer:
Verified
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