Question: A ( $ 1,000 ) par value bond with an annual coupon rate of 5, and callable at ( $ 1,050 ), can be converted
A \\( \\$ 1,000 \\) par value bond with an annual coupon rate of \5, and callable at \\( \\$ 1,050 \\), can be converted into 18 shares of common stock. Currently, common stock sells for \\( \\$ 55 \\) and the bond sells for \\( \\$ 1,020 \\). How much will this bond be worth upon conversion (conversion value)? \\( \\$ 990 \\). \\( \\$ 1,000 \\). \\( \\$ 1,050 \\). \\( \\$ 950 \\). \\( \\$ 1,020 \\). \\( \\$ 1,055 \\)
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