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The following facts apply to a convertible bond making semiannual payments: $59/share 7% $1,000 Conversion price Coupon rate Par value Yield on nonconvertible debentures of

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The following facts apply to a convertible bond making semiannual payments: $59/share 7% $1,000 Conversion price Coupon rate Par value Yield on nonconvertible debentures of same quality Maturity Market price of stock 10% 30 years $55 /share What is the minimum price at which the convertible should sell? Multiple Choice O $15.06 $913.56 $93220 $1.000.00

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