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A month ago
A bond with a face value of $1000 is convertible to common stock at a conversion ratio of 60. If the stock is currently trading at $8.20 per share, the value of the bond is probably closest in value to which of the following?

▸ about $1000

▸ above $1666

▸ less than $492

▸ about $492
Textbook 
Fundamentals of Corporate Finance
Edition: 2nd
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A month ago
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about $1000
1
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