Question
A convertible bond has a $1,000 face value and a conversion ratio of 27. If the stock price is $31, what is the conversion value?
A convertible bond has a $1,000 face value and a conversion ratio of 27. If the stock price is $31, what is the conversion value? (Omit the "$" sign in your response.)
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Financial Management Principles And Applications
Authors: J William Petty, Sheridan Titman, Arthur J Keown, John D Martin, Peter Martin, Michael Burrow, Hoa Nguyen
6th Edition
1442539178, 9781442539174
