Question: Preferred stocks have $1,000 liquidation preference each share and conversion ratio of 24.2010. If current market price of common share is $53.72, how much can

Preferred stocks have $1,000 liquidation preference each share and conversion ratio of 24.2010. If current market price of common share is $53.72, how much can preferred shareholders gain from the conversion (each share)?

(a). $1,000 per share

(b). $300 per share

(c). $53.72 per share

(d). Cannot determine

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