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Orient Airlines' common stock currently sells for $33, and its 8% convertible debentures (issued at par, or $1,000) sell for $850. Each debenture can be converted into 25 shares of common stock at any time before 2020. What is the conversion value of the bond?
Counterproposal
A proposal made in response to a previous proposal, often involving changes to terms or conditions.
Tangible Benefit
A clear and measurable advantage or gain, often relating to physical or financial items that can be directly observed or quantified.
Preserve Relationship
Efforts or actions taken to maintain and protect the quality and stability of a professional or personal relationship.
Face-To-Face Delivery
The process of presenting information or communicating directly with another person in the same physical space.
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