Question: Problem 24-2 Conversion Ratio A convertible bond with a par value of $1,000 has a conversion price of $44.90. What is the conversion ratio of

Problem 24-2 Conversion Ratio

A convertible bond with a par value of $1,000 has a conversion price of $44.90. What is the conversion ratio of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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