A Treasury issue is quoted at 104.62585 bid and 104.655 ask. Assume a face value of $1,000. What is the least you could pay to acquire a bond? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Price Ashton Long, a bond analyst, is analyzing a convertible bond. The characteristics of the bond are given below. Convertible Bond Characteristics Par value $1,000 Annual coupon rate (annual pay) Conversion ratio Market price Straight value 99% of par Underlying Stock Characteristics Current market price 29 per share 8.3% 36 119% of par $ Compute the bond's conversion value and conversion price. (Round your conversion price to 2 decimal places.) Answer is complete but not entirely correct. S Conversion value Conversion price 1,044 27.77 S