Suppose you own 1,000 shares of STU Corporation 10% convertible preferred stock.

Suppose you own 1,000 shares of STU Corporation 10% convertible preferred stock. If each preferred share is convertible into 40 common shares, what is the conversion value of your 1,000 preferred shares if the common stock is trading at:

a. $20 per share?

b. $30 per share?

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c. $40 per share?

 

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