A Convertible Bond Has a Par Value of $1,000 and a Market

question 73

Multiple Choice

A convertible bond has a par value of $1,000 and a market price of $1,116.76. If the conversion ratio is 18, what is the conversion price?

• A) $43.48
• B) $45.45
• C) $47.62
• D) $52.63
• E) $55.56

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