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A 20 year corporate bond has a coupon rate of 9% paid semi annually, a par value of $1000 and a quoted price of 102.

A 20 year corporate bond has a coupon rate of 9% paid semi annually, a par value of $1000 and a quoted price of 102. If the bond is convertibleinto 25 shares of common stock with a current market price per share of $30, what is the conversion premium per share?

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