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A $ 1 , 0 0 0 corporate bond is convertible to 4 0 shares of the corporation's common stock. What is the minimum price

A $1,000 corporate bond is convertible to 40 shares of the corporation's common stock. What is the minimum price that the stock must obtain before bondholders would consider converting the bond to stock?
1.$15
2.$10
3.$25
4.$20

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