(a) Trump Limited has an outstanding issue of convertible bonds with $1,000 par value. These bonds are convertible into 50 shares of Alis common stock. The convertible bonds have a 10% coupon with 10-year maturity. The yield-to-maturity for a straight bond of similar risk is 8%. i. Calculate the straight bond value of the convertible bond. (5 marks) ii. What is the conversion value of the convertible bond when the market price of Trumps common stock is $30 per share? (3 marks) iii. If the market price of common stock were $18 per share, what would be the least selling price of the convertible bond? (3 marks)