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25-08-2020
Business

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The holders of ZZZ Corporation's bonds with a face value of $1,000 can exchange that bond for 35 shares of stock. The stock is selling for $25.00. What is the conversion price

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Parrain Parrain

26-08-2020

Answer: $28.57

Explanation:

The Conversion price is the price of the bond divided by the conversion ratio.

Price = $1,000

Conversion ratio = 35 shares

Conversion ratio = 1,000/35

= $28.57

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