A $1,000 par convertible debenture has a conversion price for common stock of $40 per share. With the common stock selling at $49. what is the conversion value of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.... 32.16.) Conversion value An investor buys 100 shares of XYZ stock at $30/share and one XYZ 40 put @ $13 to hedge the position Over eight months, the stock appreciates to $40 per share. The investor is confident that the stock is a good long-term investment with additional upside potential, but is concerned about a near-term weakness in the overall market that could wipe out his unrealized gains. What is the maximum gain for this investor? Multiple Choice $1,300 $1,400 $1700 Unlimited