3. You have been hired to value a new 30-year convertible bond. The bond is 7% annual coupon bond with a face value of $1000. The conversion price is $65 and the stock currently sells for $50. What is the minimum value of the bond? Comparable non- convertible bonds are priced to yield 9%. 1 4. Consider a project that costs $5000 and has an expected future cash flow of $1000 per year for 20 years. If we wait one year, the cost will increase to $5500 and the expected future cash flow will increase to $1200. If the required return is 13%, should we accept the project? If so, when should we begin