Answer:
The answer is $27.03
Explanation:
A convertible bond is a debt security that generates interest payments, but can be converted to shares of the issuing company's stock at the bondholder's discretion and can be done at certain times during the bond's life.
The common stock price must be:
Bond price / number of shares receceived
Bond price is $1,000
Number of shares receceived is 37 shares
$1,000/37 shares
=$27.03
