The Holders of Looper Industries Bond with a Face Value

question 57

Multiple Choice

The holders of Looper Industries bond with a face value of $1,000 can exchange that bond for 20 shares of stock. The stock is selling for $35.00. What is the conversion value of the bond?

• A) $35
• B) $70
• C) $700
• D) $1,000
• E) No conversion premium is given.

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