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The bonds issued by Gibault Air Systems have a face value of $1,000 and can be exchanged for 20 shares of stock. Assume Gibault declares
The bonds issued by Gibault Air Systems have a face value of $1,000 and can be exchanged for 20 shares of stock. Assume Gibault declares a 3-for-1 stock split. What conversion price will be needed following the stock split for the conversion value and the straight bond value to be equal assuming the bond continually sells at par
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Accounting Information Systems Controls And Processes
Authors: Leslie Turner, Andrea B. Weickgenannt
1st Edition
0471479519, 9780471479512
