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You own 100 convertible bonds issued by Eagles, Inc. You bought it when the company's stock traded at $35/share. It is convertible at a price
You own 100 convertible bonds issued by Eagles, Inc. You bought it when the company's stock traded at $35/share. It is convertible at a price of $40 per share. Eagles is performing very well and the stock now trades at $85 per share. You decide to convert your bonds into common shares. At the current market value, what are your shares worth. Use $ symbol and commas if appropriate. Round to the nearest $.
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