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Exhibit 14-9 USE THE FOLLOWING INFORMATION FOR THE NEXT PROBLEM(S)

Question 46

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Exhibit 14-9
USE THE FOLLOWING INFORMATION FOR THE NEXT PROBLEM(S)
BioTech Industries has debentures outstanding (par value $1,000) convertible into the company's common stock at $30. The coupon rate is 11% payable semiannually and they mature in 10 years.
-Refer to Exhibit 14-9. Calculate the conversion value of the bond if the stock price is $27.00 per share.


A) $600.00
B) $700.00
C) $800.00
D) $900.00
E) $1,000.00

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