A convertible bond with a par value of $1,000 has a conversion price of $42.18. What is

Question:

A convertible bond with a par value of $1,000 has a conversion price of $42.18. What is the conversion ratio of the bond?

Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...

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