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Bubba wants to buy a $4 convertible preferred with that has a $50 par value...

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Bubba wants to buy a $4 convertible preferred with that has a $50 par value and is exchangeable for common stock at $47.50. If the preferred stock is trading at 52, what does Bubba calculate as the common stock price in order to be at parity with the preferred?

A.

47.50

B.

52.00

C.

a little less than 49.38

D.

a little more than 54.50

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TESTED 02 Aug 2025