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You have purchased a convertible bond for $1,054.40. It is convertible into 26 shares of the firms common stock. The current stock price is $14.40

You have purchased a convertible bond for $1,054.40. It is convertible into 26 shares of the firms common stock. The current stock price is $14.40 per share. a. What is the market conversion value of the bond? (Round your answer to 2 decimal places.) Market conversion value $ b. What is the conversion premium? (Round your answer to 2 decimal places.) Conversion premium $

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