A convertible bond has a $1,000 face value and a conversion ratio of 45. What is the

Question:

A convertible bond has a $1,000 face value and a conversion ratio of 45. What is the conversion price?

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...