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The following facts apply to a convertible bond makingsemiannual payments: Conversion price $ 37 /share Coupon rate 2.6 %Par value $ 1,000 Yield on nonconvertible debentures of samequality 5 % Maturity 25 years Market price of stock $ 34 /sharea. What is the minimum price at which the convertible shouldsell? (Do not round intermediate calculations and round your answerto 2 decimal places, e.g., 32.16.)
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On January 1,2020, Ivanhoe Enterprises issued 9%,10-year bonds with a face amount of $940,000 at...
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