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Billy Goat purchased a $1000 par value, 6% coupon, 20-year, convertible bond for $1070 with a conversion ratio of 40 . If the common stock
Billy Goat purchased a
$1000
par value,
6%
coupon, 20-year, convertible bond for
$1070
with a conversion ratio of 40 . If the common stock is currently selling for
$26.00
, what is the conversion premium?\
$70
\
$50
\
$40
\
$30
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