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Neuman Corporation Convertible Bonds
The following data apply to Neuman Corporation's convertible bonds:
Maturity: 10
Stock price: $30.00
Par value: $1,000.00
Conversion price: $35.00
Annual coupon: 5.00%
Straight-debt yield: 8.00%
Problem 1: Refer to the data for the Neuman Corporation's convertible bonds. What is the bond's straight-debt value?
Option a. $758.76
Option b. $798.70
Option c. $684.78
Option d. $838.63
Option e. $720.82
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