Multiple Choice
The holders of Looper Industries bond with a face value of $1,000 can exchange that bond for 20 shares of stock. The stock is selling for $35.00. What is the conversion value of the bond?
A) $35
B) $70
C) $700
D) $1,000
E) No conversion premium is given.
Correct Answer:
Verified
Correct Answer:
Verified
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