Consider a convertible bond trading at $1,000 with a conversion ratio of 37.383, coupon rate...

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Accounting

Consider a convertible bond trading at $1,000 with a conversion ratio of 37.383, coupon rate of 9.5%, and par value of $1,000. If the firm's stock trades at $23 and provides an annual dividend of $0.75, what is the premium payback period?
2.23
1.99
1.81
2.09
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