Bavarian Brew issued convertible bonds with a par value of $1,000.The conversion ratio on the bonds is 12.33,the current market price of the bonds is $933.75 and the underlying stock currently sells at $35.25.What is the conversion price?
A) $33.25
B) $75.73
C) $54.36
D) $12.33
Correct Answer:
Verified
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