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Question
Convertible debentures for Kulik Corporation were issued at their $1,000 par value in 2012. At any time prior to maturity on February 1, 2032, a debenture holder can exchange a bond for 25 shares of common stock. What is the conversion price, Pc?a. $40.00
b. $42.00
c. $44.10
d. $46.31
e. $48.62
Answer
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