Question
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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