10 of 10 (9 complete) HW Score: 83.33%, 8.33 of 10 pts P10.21 (similar to) Question Help Find the conversion value of a convertible preferred stock that carries a conversion ratio of 1.6, given that the market price of the underlying common stock is $38 32 a share. Would there be any conversion premium if the convertible preferred were selling at $89.91 a share? If so, how much in dollar and percentage terms)? Also, explain the concept of conversion parity, and then find the conversion parity of this issue, given that the preferred trades at $89.91 per share The conversion value of the convertible preferred stock is $ . (Round to the nearest cont.) Enter your answer in the answer box and then click Check Answer. Checker Clear All 5 parts 5 remaining