A convertible bond has the following features. What is its conversion premium? Coupon .................................................................. 5.25% Maturity ........................................................
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Coupon .................................................................. 5.25%
Maturity ........................................................ June 15, 2025
Market price of bond .................................................. $77.50
Market price of underlying common stock ........................ $28.00
Annual dividend ...................................................... $1.20
Conversion ratio ............................................... 20.83 shares
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...
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Related Book For 
Essentials of Investments
ISBN: 978-0077835422
10th edition
Authors: Zvi Bodie, Alex Kane, Alan J. Marcus
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