A firm has a convertible bond with the following features:

Coupon $,6\mathrm{.}5\%$

Maturity date $10$ years

Exercise price $$20$

Principal $$1,000$

Call price $$1,065$

Currently the common stock is selling for $$13$ and the yield on comparable non$-$convertible bonds is $10\%.$

a$.$ What is the value of this bond in terms of the common stock?

b$.$ What would be the value of this bond if it lacked the conversion feature?

c$.$ For how much would the convertible bond sell for at least?