Question: A convertible ( $ 1 , 0 0 0 ) bond was issued with a conversion price of ( $

A convertible \(\$ 1,000\) bond was issued with a conversion price of \(\$ 35\) when its shares were trading at \(\$ 18.50\). Subsequently, the stock price rose to \(\$ 79\), and the conversion became in the money. How much is the investor's PROFIT if they exercise the conversion? Input your answer rounded to 0 decimal places, and do NOT enter any symbols such as \(\$,\%\) or commas. Answer:
A convertible \ ( \ $ 1 , 0 0 0 \ ) bond was

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