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A convertible bond has a par value of $1,000 and a current market value of $850. The current price of the issuing firm's stock is

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A convertible bond has a par value of $1,000 and a current market value of $850. The current price of the issuing firm's stock is $33.33 and the conversion ratio is 30 shares. The bond's conversion value is OA. $150 OB. $1,000 C. $850

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