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The bonds of Goniff Bank & Trust have a conversion premium of $ 3 8 . Their conversion price is $ 1 5 . The

The bonds of Goniff Bank & Trust have a conversion premium of $ $38 .$ Their conversion price is $ $15 .$ The common stock price is $ $13.20 .$ Assume each bond has a $ $1, 000$ par value.

What is the price of the convertible bonds? $($ Do not round intermediate calculations and round your answer to $2$ decimal places. $)$

Convertible bond price

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