As a Finance Analyst, you're working on a project to determine whether your employer, Facebook, should invest in convertible bonds of Snap Inc. Snap Inc. is the owner of Snapchat and Bitmoji and is currently trading at $14.17 per share. Snap Inc. is going to issue $1.8 billion in convertible bonds today (2020). The bonds have a 1.74% coupon rate (paid annually) with a face value of $850. The bonds will mature in 2025 and have a conversation ratio of 43.5.

Using the conversion price you calculated, along with the information above, what is the conversion premium?