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An investor is holding a $1,000 par, 10-year 9 percent coupon convertible bond with a 9 percent required bond yield. The bond is convertible into

An investor is holding a $1,000 par, 10-year 9 percent coupon convertible bond with a 9 percent required bond yield. The bond is convertible into 40 shares of stock. Each share is worth $30. The bond has a current market value of $1,200. If interest rates don't change, what is the maximum gain and loss on the bond?

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