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A company has a convertible bond outstanding with a conversion price of $50 and maturity in 10 years. The company's share price is $24.25. This

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A company has a convertible bond outstanding with a conversion price of $50 and maturity in 10 years. The company's share price is $24.25. This convertible bond is comparable to a 10-year coupon bond traded in the market with face value of $1,000, annual coupon rate of 9%, and required return of 12%. What is the floor value of this convertible bond? O $2,575 $830.49 $928.34 $24.25 $485

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