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A $21,000 corporate bond is convertible to 30 shares of the corporation's common stock. What is the minimum price that the stock must obtain before

A $21,000 corporate bond is convertible to 30 shares of the corporation's common stock. What is the minimum price that the stock must obtain before bondholders would consider converting a bond to the company's common stock? (Round your answer to 2 decimal places.)

Multiple Choice

$420.00

$630.00

$210.00

$808.50

$700.00

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