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A customer bought a $ 1 , 0 0 0 par convertible subordinated debenture at par, convertible into common at $ 3 2 per share.

A customer bought a $1,000 par convertible subordinated debenture at par, convertible into common at $32 per share. If the bond's market price increases by 12.5%, the parity price of the stock will be:
A $32.00
B $36.00
C $37.50
D $38.40
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