You purchase a 1000 face value convertible bond for 975 the, Financial Management

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You purchase a 1000 face value convertible bond for 975 the

You purchase a $1000 face value convertible bond for $975. The bond can be converted into 150 shares of stock. The stock is currently priced at $5.25. At what minimum stock price would you be willing to convert?

A. $4.50 B. $5.26 C. $6.50 D. $7.10 E. $7.25

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Financial Management: You purchase a 1000 face value convertible bond for 975 the

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Financial Management: You purchase a 1000 face value convertible bond for 975 the

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