Lowrey Metals Corporation has a $1000 convertible bond outsanding that has a market value of $1,100. It has a coupon rate of 7 percent and matures in…

Lowrey Metals Corporation has a $1000 convertible bond outsanding that has a market value of $1,100. It has a coupon rate of 7 percent and matures in 10 years. Ther conversion price is $40. The common stock currently is selling for $37. At what price does the common stock need to sell for the conversion value to be equal to the current bond price?

Lowrey Metals Corporation has a $1000 convertible bond outstanding that has a marketvalue of $1,100. It has a coupon rate of 7 percent and matures in 10 years. Ther conversionprice is $40. The…

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