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Borka Industries has 4 0 0 , 0 0 0 shares of stock outstanding with a market price of $ 3 2 per share. The

Borka Industries has

400, 000

shares of stock outstanding with a market price of $

32

per share. The firm also has

10, 000

bonds outstanding with a face value of $

1, 000

and a conversion price of $

40 .

The bonds mature tomorrow. You currently own

25, 000

shares of this stock but no bonds. What percent ownership in the firm should you expect to have after tomorrow?

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