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13-12-2022
Business

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Roberts owns 100 shares of $1,000 face amount convertible bonds issued by Bearny Inc. Choose the statement that correctly describes this transaction.
Multiple Choice
Roberts may choose to exchange the bonds for Bearny Inc. common stock, or retain the bonds until maturity.
Roberts must exchange the bonds for Bearny Inc. common stock at maturity.
Bearney Inc. may require that Roberts exchange the bonds for its common stock.
Roberts must exchange the bonds for Bearny Inc. common stock prior to maturity.

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