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Orient Airlines common stock currently sells for $33, and its 8% convertible debentures (issued at ...

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Orient Airlines common stock currently sells for $33, and its 8% convertible debentures (issued at ...

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 2017. What is the conversion value of the bond?

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$707.33

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$744.56

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$783.75

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$825.00

Textbook

Financial Management: Theory and Practice

Edition: 4^th

Authors: Brigham, Ehrhardt, Gessaroli, Nason

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