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You are given the following data regarding the Excel Corporations convertible bonds Maturity 20 Stock price $3 6 0 0 Par value $1 0 0 0 0 0 Conversion price $4 0 0 0 Annual

You are given the following data regarding the Excel Corporation's convertible bonds

Maturity:

20

Stock price:

$3 6 . 0 0

Par value:

$1 , 0 0 0 . 0 0

Conversion price:

$4 0 . 0 0

Annual coupon:

6. 0 0 %

Straight-debt yield:

6.75 %

       



What is the minimum price (floor Price) at which the bonds should sell?

   

$890

   

$900

   

$919

   

$928

   

$943

 

Apr 05 2020 View more View Less

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