Which the company convertible bonds should sell

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Use the following data for Marcus, Inc. to determine the minimum price (or "floor price") at which the company's convertible bonds should sell. Round to the nearest whole dollar.

Maturity: 20 years

Stock price: $40.00

Par value: $1,000

Conversion price: $45

Annual coupon: 8%

Straight debt yield: 10%

Reference no: EM131543692

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