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$1,000 par value, 10-year maturity bonds issued by the same company whose stock currently has a price of $70:| Bond A | Bond B | Bond C |
|--------|--------|--------|
| Convertible: Yes | Yes | No |
| Conversion ratio: 18 | 10 | N/A |
| Callable: No | No | At par |
| Current bond value: $1,200 | $1,000 | $1,000 |
If the share price increases, which bond is likely to increase in value the most?
A
Bond A
B
Bond B
C
Bond C