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Question
B & O Railroad's convertible debentures were issued at their $1,000 par value in 2008. At any time prior to maturity on February 1, 2028, a debenture holder can exchange a bond for 25 shares of common stock. What is the conversion price, Pc?
a. $25
b. $1,000
c. $40
d. $1,025
e. $50
Answer
This answer is hidden. It contains 52 characters.
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