Question: A $1,000 par value bond, callable at $1,100, can be convertible into 20 shares of common stock. Currently, the common stock sells for $40 and

A $1,000 par value bond, callable at $1,100, can be convertible into 20 shares of common stock. Currently, the common stock sells for $40 and the bond sells for $950. How much will this bond be worth upon conversion?

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