You own nine convertible bonds.These bonds have a 7 percent coupon,a $1,000 face value,and mature in 6 years.The bonds are convertible into shares of common stock at a conversion price of $25.How many shares of stock will you receive if you convert all of your bonds?
A) 285
B) 300
C) 350
D) 360
E) 400
Correct Answer:
Verified
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