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mantparn mantparn
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Posts: 1904
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7 years ago
A firm has outstanding convertible preferred stock with a $50 par value which is convertible into three shares of common stock. The conversion value is $45. What is the current market price of a share of common stock?
A) $15.00
B) $16.67
C) $17.33
D) $20.00
Textbook 
Principles of Managerial Finance

Principles of Managerial Finance


Edition: 14th
Authors:
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alovelyalovely
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7 years ago
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mantparn Author
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#2
7 years ago
Thanks for the assistance, I've marked your post as best answer
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