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A convertible bond with a par value of $ 1 , 0 0 0 has a conversion price of $ 4 0 . 1 0

A convertible bond with a par value of $1,000 has a conversion price of $40.10. What is the conversion ratio of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.)

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