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A convertible bond has a par value of $1,000, but its current market price is $1,050. The current price of the issuing company's stock is

A convertible bond has a par value of $1,000, but its current market price is $1,050. The current price of the issuing company's stock is $18.68, and the conversion ratio is 35 shares. What is the bond's conversion premium?

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