Question: A convertible bond trading at $ 1 , 1 6 3 has the following terms: Par = $ 1 , 0 0 0 ; Conversion

A convertible bond trading at $1,163 has the following terms:
Par=$1,000;
Conversion ratio=57;
Market conversion premium ratio=21%.
What is the current share price of the common stock?
Round your answer to 2 decimals.

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