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Question
A holder of Rainbow Funds convertible bonds with a $1,000 par and a $1,100 price can convert the bond to 25 shares of common stock. The stock is currently priced at $36 per share. By what percent does the stock price have to rise to make conversion potentially attractive?
A. 10.00%
B. 14.73%
C. 22.22%
D. 23.64%
E. 25.69%
Answer
This answer is hidden. It contains 17 characters.
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