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Assume that Almond Milk Company has a $1,000 face value bond with a stated coupon rate of 6.91 percent that is convertible into its common

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Assume that Almond Milk Company has a $1,000 face value bond with a stated coupon rate of 6.91 percent that is convertible into its common stock at $35.92. The bond is selling at $1,095.28 in the market. The common stock is selling for $33.42 and pays a dividend of 0.87 per share. Calculate the conversion value: Please calculate the final answer to two decimal places. 'Your

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