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corp. x issued 10 year maturity, 5.0% annual coupon $1,000 par convertible bonds with a conversion price of $35.00; the straight debt yield on corp.

corp. x issued 10 year maturity, 5.0% annual coupon $1,000 par convertible bonds with a conversion price of $35.00; the straight debt yield on corp. x is 8.0% and their stock is currently priced at $30.00. what is the bond's conversion ratio?

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