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A firm has outstanding convertible preferred stock with a $100 par value and a current...

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Finance

A firm has outstanding convertible preferred stock with a $100 par value and a current market price of $90.00. The preferred share is convertible into five shares of common stock. The conversion value is $100. What is the current market price for one share of common stock?

a. $15

b. $18

c. $20

d. $100

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