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A convertible bond has a 9 percent coupon, paid semiannually, and will mature in 12 years. If the bond were not convertible, it would be
A convertible bond has a 9 percent coupon, paid semiannually, and will mature in 12 years. If the bond were not convertible, it would be priced to yield 8 percent. The conversion ratio on the bond is 25 and the stock is currently selling for $43 per share. What is the minimum value of this bond?
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