Solved: The following facts apply to a convertible bond making, Accounting Basics

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The following facts apply to a convertible bond making

Question - The following facts apply to a convertible bond making semiannual payments:

Conversion price $ 39 /share

Coupon rate 2.8 %

Par value $ 1,000

Yield on nonconvertible debentures of same quality 3 %

Maturity 20 years

Market price of stock $ 38 /share

What is the minimum price at which the convertible should sell?

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Accounting Basics: The following facts apply to a convertible bond making

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Accounting Basics: The following facts apply to a convertible bond making

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