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Problem 12-17 Conversion Option Suppose a share of convertible preferred stock was selling for $29.5 when an otherwise equivalent share of preferred stock for the

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Problem 12-17 Conversion Option Suppose a share of convertible preferred stock was selling for $29.5 when an otherwise equivalent share of preferred stock for the same company was selling for $22.18. What would be the value of the conversion option? The conversiod value of the option would be \$ Round your answer to the nearest two decimal places

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