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You have been hired to value a new 2 5 - year callable - convertible bond. The bond has a 6 % coupon, payable semi
You have been hired to value a new year callableconvertible bond. The bond has a coupon, payable semiannually, and its face value is $ The conversion price is $ and the stock currently sells for $ Calculate the minimum value of the bond. Comparable nonconvertible bonds are priced to yield Do not round intermediate calculations. Round the final answer to decimal places. Omit any commas and the $ sign in your response. For example, an answer of $ should be entered as
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