Multiple Choice
A bond with a face value of $1,000 is convertible to common stock at a conversion ratio of 60. If the stock is currently trading at $8.20 per share, the value of the bond is probably closest in value to which of the following?
A) less than $492.00
B) about $492.00
C) about $1,000
D) above $1666.67
Correct Answer:
Verified
Correct Answer:
Verified
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