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Barbour Inc has issued a convertible bond that is making semiannual payments and has the following characteristics: $34/share 7% $1,000 Conversion price Coupon rate Par

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Barbour Inc has issued a convertible bond that is making semiannual payments and has the following characteristics: $34/share 7% $1,000 Conversion price Coupon rate Par value Yield on nonconvertible debentures of same quality Maturity Market price of stock 10% 15 years $33 /share What is the minimum price at which the convertible should sell? Multiple Choice

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