What is the conversion value of the bond

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Reference no: EM131013110

KORO Corporation's common stock currently sells for $27.50. Its 8% convertible bonds (issued at par $1000) now sell for $950. The bonds can be converted into 40 shares of common stock. What is the conversion value of the bond?

$688

$593.75

$950

$1,100

none of the above

Reference no: EM131013110

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