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A $ 1 , 0 0 0 face value convertible bond has a conversion ratio of 4 9 and is about to mature. Ignoring any

A $

1, 000

face value convertible bond has a conversion ratio of

49

and is about to mature.

Ignoring any transaction costs, what price must the stock surpass in order for you to convert?

The required price per share will be $

. (

Round to the nearest cent.

)

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