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P1710 Conversion (or stock) value What is the conversion (or stock) value of each of the following convertible bonds?

a. A $1,000-par-value bond that is convertible into 25 shares of common stock. The common stock is currently selling for $50 per share.

o Specifications par-value $1,000, convertible shares 25, and current selling price $50 per share.

o Conversion value = Market price per share x number of convertible shares

o Conversion value = $50 x 25 shares = $1,250

o The conversion value is $1,250

b. A $1,000-par-value bond that is convertible into 12.5 shares of common stock. The common stock is currently selling for $42 per share.

o Specifications par-value $1,000, convertible shares 12.5, and current selling price $42 per share.

o Conversion value = Market price per share x number of convertible shares

o Conversion value = $42 x 12.5 shares = $525

o The conversion value is $525

c. A $1,000-par-value bond that is convertible into 100 shares of common stock. The common stock is currently selling for $10.50 per share.

o Specifications par-value $1,000, convertible shares 100, and current selling price $10.50 per share.

o Conversion value = Market price per share x number of convertible shares

o Conversion value = $10.50 x 100 shares = $1,050

o The conversion value is $1,050