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Claypot Ceramics Company has a $1,000 par value convertible bond outstanding that can be converted into 30 shares of common stock. The common stock is

Claypot Ceramics Company has a $1,000 par value convertible bond outstanding that can be converted into 30 shares of common stock. The common stock is currently selling for $43.70 a share, and the convertible bond is selling for $1,350.(Round the final answers to 2 decimal places.)

a.What is the conversion value of the bond?

Conversion value$

b.What is the conversion premium?

Conversion premium$

c.What is the conversion price?

Conversion price$

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