INTERMEDIATE ACCOUNTING
10th Edition
ISBN: 9781265246853
Author: SPICELAND
Publisher: PEARSON
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You've been asked to evaluate a new 25-year callable, convertible bond issued
by Nova Energy Inc.. The bond has a 6.5% annual coupon, a face value of
$1,000, and a conversion price of $45. The company's stock currently trades at
$38 per share.
What is the conversion premium for this bond?
a) $5
b) $6
c) $7
d) $8
e) $10
subject general accounting
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