A convertible bond has a par value of \$1,000 and a current market price of \$850. The current price of the issuing firm's stock is \$29 and the conversion ratio is 30 shares. The bond's mar

24/29

A convertible bond has a par value of \$1,000 and a current market price of \$850. The current price of the issuing firm's stock is \$29 and the conversion ratio is 30 shares. The bond's market conversion value is______.

None of these is correct.