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WMT 9s of 15 have a conversion price of $11.00. If this bond sells for $1,148...

WMT 9s of 15 have a conversion price of $11.00. If this bond sells for $1,148 when the common stock is $8 per share, what is the bond’s premium over conversion value?

A. $259

B. $222

C. $421

D. $148

E. $727

F. $548

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