Question: A $1,000 face value convertible bond has a conversion ratio of 47 and is about to mature. Ignoring any transaction costs, what price must the

A $1,000 face value convertible bond has a conversion ratio of

A $1,000 face value convertible bond has a conversion ratio of 47 and is about to mature. Ignoring any transaction costs, what price must the stock surpass in order for you to convert? The required price per share will be $ (Round to the nearest cent.)

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