11. Calculating Values for Convertibles [LO] You have been hired to value a new 30-year callable, convertible bond. The bond has a coupon rate of 2.3 percent, payable semiannually, and its face value is $1,000. The conversion price is $49, and the stock currently sells for $38. a. What is the minimum value of the bond? Comparable nonconvertible bonds are priced to yield 4.6 percent. b. What is the conversion premium for this bond? 12. Calculating Warrant Values [LO6] A bond with 20 detachable warrants has just been offered for sale at $1,000. The bond matures in 20 years and has an annual coupon of $18. Each warrant gives the owner the right to purchase two shares of stock in the company at $45 per share. Ordinary bonds (with no warrants) of similar quality are priced to yield 5 percent. What is the value of one warrant