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Conversion (or stock) value What is the conversion (or stock) value of the following convertible...

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Conversion (or stock) value What is the conversion (or stock) value of the following convertible bond? A $1,000-par-value bond that is convertible into 50 shares of common stock. The common stock is currently selling for $44.29 per share. The conversion (or stock) value is $ (Round to the nearest cent.)

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