Multiple Choice
A bond with a face value of $1,000 can be exchanged for 35 shares of stock with a current market price of $22 per share.What would the conversion ratio and conversion price be if the bond's issuer declared a stock split of 3-for-1?
A) 75; $7.33
B) 105; $9.52
C) 105; $22.00
D) 35; $22.00
E) 105; $7.33
Correct Answer:
Verified
Correct Answer:
Verified
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