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If a bond with a face value of $1,000, coupon rate and yield to maturity of 8%, and conversion ratio of 20, sees a drop
If a bond with a face value of $1,000, coupon rate and yield to maturity of 8%, and conversion ratio of 20, sees a drop in the common price to 25, the value of the security will be:
A. $500
B. greater than $1,000
C. less than $1,000
D. $1,000
Answer : D
* I NEED YOU TO SHOW ME THE WORKING ON HOW TO GET $1000
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