A $1,000 par value bond with an annual coupon rate of 5%, and callable at $1,050, can be converted into 18 shares of common stock. Currently, common stock sells for $55 and the bond sells for $1,020. How much will this bond be worth upon conversion (conversion value)? $990. $1,020. $1,050. $950. $1,000. $1,055.

A \\( \\$ 1,000 \\) par value bond with an annual coupon rate of \5, and callable at \\( \\$ 1,050 \\), can be converted into 18 shares of common stock. Currently, common stock sells for \\( \\$ 55 \\) and the bond sells for \\( \\$ 1,020 \\). How much will this bond be worth upon conversion (conversion value)? \\( \\$ 990 \\). \\( \\$ 1,020 \\). \\( \\$ 1,050 \\). \\( \\$ 950 \\). \\( \\$ 1,000 \\). \\( \\$ 1,055 \\)