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  25,000 new shares of preferred stock are to be issued in a down round priced at $1

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25,000 new shares of preferred stock are to be issued in a down round priced at $1.25 per share. Before the financing round, there are 100,000 shares of preferred stock outstanding with an original conversion price of $2.50. The original investors have weighted average anti-dilution protection. Using the Conversion Price Formula, what is the conversion price of the original preferred stock after the financing round?