A $1,000 par value bond with an annual coupon rate of 5%, and callable at $1,050, can

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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)?