Question: A $ 5 0 par value convertible preferred stock is convertible into 5 shares ( exercise price of $ 1 0 ) . The preferred

A $50 par value convertible preferred stock is convertible into 5 shares (exercise price of $10). The preferred stock is selling for $75 and the price of the common stock is $12.
If the price of the common stock rises to $20, what is the minimum price the holder of the preferred stock should experience?

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