A convertible bond has a conversion ratio of 32 and par value of $1,000. What is the conversion price?

Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter4: Bond Valuation
Section: Chapter Questions
Problem 14MC
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Business 123 Introduction to Investments

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A convertible bond has a conversion ratio of 32 and par value of $1,000. What is the conversion price?
Transcribed Image Text:A convertible bond has a conversion ratio of 32 and par value of $1,000. What is the conversion price?
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