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A firm issues a 6-year convertible bond paying interest annually at a coupon rate of 5% on a par 6.5%. The bond is convertible into shares of common stock at a conversion price $25 per share (i.e. the bond is exchangeable for 40 shares). Today's closing stock price was $22. What is the floor value of this bond? $937.66$1,000 None of the other answers $880.00$1064.94