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1. If a bond with a face value of $1,000, coupon rate and yield to maturity of 8%, and conversion ratio of 20, sees a
1. If a bond with a face value of $1,000, coupon rate and yield to maturity of 8%, and conversion ratio of 20, sees a drop in the common price to 25, the value of the security will be:
- $500
- greater than $1,000
- less than $1,000
- $1,000
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