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Suppose you have an 8% coupon bond that pays SEMIANNUAL coupons and will mature in...

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Accounting

Suppose you have an 8% coupon bond that pays SEMIANNUAL coupons and will mature in 15 years.The face value is $1000, and the yield to maturity on similar bonds is 6%. The bond is also convertible with a conversion price of $100. The stock is currently selling for $110. What is the minimum price of this convertible bond? (conversion rate not given, explain)

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