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3. A holder of Rainbow Funds convertible bonds have a $1.000 par and sell at par. The bonds can be convert to 25 shares of

3. A holder of Rainbow Funds convertible bonds have a $1.000 par and sell at par. The bonds can be convert to 25 shares of common stock. The stock is currently priced at $36 per share. At what minimum stock price would you be willing to convert

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