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Chase buys a convertible bond with a conversion ratio of 25. If the conversion value is presently $806.25, what is the value of the stock?

Chase buys a convertible bond with a conversion ratio of 25. If the conversion value is presently $806.25, what is the value of the stock?

a. $30.25.

b. $32.25.

c. $25.00.

d. $806.25.

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