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You purchase a $1,000 face value convertible bond for $986. The bond can be converted into 112.29 shares of stock. The stock is currently priced

You purchase a $1,000 face value convertible bond for $986. The bond can be converted into 112.29 shares of stock. The stock is currently priced at $20.47. At what minimum stock price would you be willing to convert? (Do not round intermediate calculations. Round your answers to 2 decimal places. (e.g., 32.16))

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