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Which of the following best defines the convertible feature of a bond? 1) The company is not locked-in to an interest rate on the bond.

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Which of the following best defines the convertible feature of a bond? 1) The company is not locked-in to an interest rate on the bond. 2) The bond may be exchanged for shares in the future. 3) The company can request the bond's return before it matures. 4) The bond resembles two products rather than one investment. 5) A portion of the bond can be repaid before it matures

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