Question
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
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$420.00
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$630.00
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$210.00
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$808.50
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$700.00
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Finance For Executives Managing For Value Creation
Authors: Gabriel Hawawini, Claude Viallet
3rd Edition
0324274319, 9780324274318
