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Compute the premium pay-back period of the following convertible bond: par=$100, coupon rate=8%, conversion ratio=19, current market price=$114.94. The underlying stock is currently trading at
Compute the premium pay-back period of the following convertible bond: par=$100, coupon rate=8%, conversion ratio=19, current market price=$114.94. The underlying stock is currently trading at $4.96, and it pays an ahnual dividend of $0.14 per share. Round your answer to 2 decimal places
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