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Question
Sharon has a convertible bond with a face value of $1,000 that can be converted into 40 shares of common stock of Mountain Ice Corporation. If the current price of the stock is $20, what is the conversion price of the bond?
a. $20
b. $50
c. $800
d. $500
e. None of the above.
Answer
This answer is hidden. It contains 40 characters.
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