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Problem 15-1 Analyzing Convertible Bonds [LO15-2] Jackson Metals, Incorporated, issued a $1,000 convertible corporate bond. Each bond is convertible to 46 shares of the firm's

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Problem 15-1 Analyzing Convertible Bonds [LO15-2] Jackson Metals, Incorporated, issued a $1,000 convertible corporate bond. Each bond is convertible to 46 shares of the firm's common. stock. What price must the common stock reach before investors would consider converting their bond to common stock? Note: Round your answer to 2 decimal places

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