What is the minimum value of this bond

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Reference no: EM131174930

A convertible bond has a 6.5 percent coupon, paid semiannually, and will mature in 10 years. If the bond were not convertible, it would be priced to yield 5.5 percent. The conversion ratio on the bond is 25 and the stock is currently selling for $51 per share. What is the minimum value of this bond?

Reference no: EM131174930

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