What is the minimum price of the convertible, Financial Management

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What is the minimum price of the convertible

Suppose you have a 10% convertible debenture that pays semi-annual coupons and will mature in 15 years. The face value is $1,000 and the yield to maturity on similar debentures is 9%. The debenture is also convertible with a conversion price of $100. The current share prices is $110. What is the minimum price of the convertible debenture?

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Financial Management: What is the minimum price of the convertible

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