Question: Problem 24-1 Conversion Price A convertible bond with a par value of $1,000 has a conversion ratio of 25.3. What is the conversion price? (Do

Problem 24-1 Conversion Price

A convertible bond with a par value of $1,000 has a conversion ratio of 25.3. What is the conversion price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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