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A $1,000 par value bond with an annual coupon rate of 5%, and callable at $1,050, can be converted into 17 shares of common stock.

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A $1,000 par value bond with an annual coupon rate of 5%, and callable at $1,050, can be converted into 17 shares of common stock. Currently, the common stock sells for $57 and the bond sells for $1,020. How much will this bond be worth upon conversion? Multiple Choice $969. $1,050. $950. $1,002

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