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Compute the premium pay-back period of the following convertible bond: par=$100, coupon rate=6%, conversion ratio=18, current market price=$112.03. The underlying stock is currently trading at

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Compute the premium pay-back period of the following convertible bond: par=$100, coupon rate=6%, conversion ratio=18, current market price=$112.03. The underlying stock is currently trading at $4.38, and it pays an annual dividend of $0.08 per share. Round your answer to 2 decimal places

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