A $1,000 par convertible debenture has a conversion price for common stock of $27 per share. With the common stock selling at $31, what is the conversion value of the bond? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Conversion value You have been hired to value a new 30-year callable, convertible bond. The bond has a coupon rate of 2.7 percent, payable semiannually, and its face value is $1,000. The conversion price is $54, and the stock currently sells for $38. a. What is the minimum value of the bond? Comparable nonconvertible bonds are priced to yield 4.9 percent. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the conversion premium for this bond? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) a. Minimum value of the bond b. Conversion premium