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A convertible bond has a straight bond value of $1,050. The conversion ratio is 24, and the stock price is $49 per share. What is

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A convertible bond has a straight bond value of $1,050. The conversion ratio is 24, and the stock price is $49 per share. What is the value of the option to convert? What is the intrinsic value of a call and a put, each with an exercise price of $40, if the stock price is currently $50? What if the stock price is $20

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