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Problem 24-9 Calculating Conversion Value [LO6] A $1,000 par convertible debenture has a conversion price for common stock of $38 per share. With the common

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Problem 24-9 Calculating Conversion Value [LO6] A $1,000 par convertible debenture has a conversion price for common stock of $38 per share. With the common stock selling at $47, what is the conversion value of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Conversion value

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