(Problem 4 continued) Assume that the bond is expected to be called after five years at a...
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(Problem 4 continued) Assume that the bond is expected to be called after five years at a call price of $1,090. The conversion value is expected to be $1,090 at that time.
What is the net present value of the investment in the convertible bond at time 0, assuming a zero-tax investor who paid $1,000 for the bond?
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