Question: Use the following data for Marcus, Inc. to determine the minimum price (or floor price) at which the company's convertible bonds should sell. Round to

Use the following data for Marcus, Inc. to determine the minimum price (or "floor price") at which the company's convertible bonds should sell. Round to the nearest whole dollar.
Maturity: 20 years
Stock price: $40.00
Par value: $1,000
Conversion price: $45
Annual coupon: 8%
Straight debt yield: 10%

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