Investor purchased a convertible debenture bond issued

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Reference no: EM131497644

In January, 2003, an investor purchased a convertible debenture bond issued by the XLA Corporation. The bond cost $1000 and paid $60 per year interest in annual payments on December 31. Under the convertible feature of the bond, it could be converted into 20 shares of common stock by tendering the. Bond, together with $400 cash. The day after the investor received the December 31, 2005, interest payment, he submitted the bond together with $4; 00 to the XLA Corporation. In return, he received the 20 shares of common stock. The common stock paid no dividends. On December 31, 2007, the investor.

Reference no: EM131497644

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