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ATA company trades in A-land. The company has 10% convertible bonds quoted at A$115 per A$100 nominal. The conversion date is in five years' time,

ATA company trades in A-land. The company has 10% convertible bonds quoted at A$115 per A$100 nominal. The conversion date is in five years' time, at the rate of 20 ordinary shares per A$100 nominal bond. The share price is currently A$5.25 and is expected to grow at 3% each year over the next five years. To the nearest whole AS, what is the current conversion premium on an individual convertible bond? Options: A. A$5 B. A$22 C. A$10

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