A convertible bond has a par value of $1,000 and a current market price of $850. The current price of the issuing firm's stock is $29, and the conversion ratio is 30 shares. The bond's market conversion value is
A) $729.
B) $810.
C) $870.
D) $1,000.
E) None of the options are correct.

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The Answer of A convertible bond has a par value of $1,000 and a current market price of $850. The current price of the issuing firm's stock is $29, and the conversion ratio is 30 shares. The bond's market conversion value is
A) $729.
B) $810.
C) $870.
D) $1,000.
E) None of the options are correct.

A Convertible Bond Has a Par Value of $1,000 and a Current