A Bond Has a Conversion Ratio of 22, a $1,000

question 60

Multiple Choice

A bond has a conversion ratio of 22, a $1,000 par value, and a market price of $1,038. The stock is selling for $46.14. What is the conversion value?

• A)$1,009.16
• B)$1,015.08
• C)$1,038.60
• D)$1,049.35
• E)$1,053.50