Question: 16. Sharon has a convertible bond with a face value of $1,000 that can be converted into 40 shares of common stock of Mountain Ice

16. Sharon has a convertible bond with a face value of $1,000 that can be converted into 40 shares of common stock of Mountain Ice Corporation. If the current price of the stock is $20, what is the conversion price of the bond? a. S20 b. $50 c. 5800 d. $500 e. None of the above

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