Bahamasair issued a 4.75 percent convertible subordinated bond due 2031. The conversion price is $47.00 and the bond is callable at $1027.50. The market price of the convertible bond is $910 and the price of the common stock is $41.50. Assume that the value of the bond in the absence of a conversion feature is about $650 a What is the conversion ratio of the bond? What is the conversion value? C At what price is the conversion value equal to the non-convertible bond value? d By how much does the commcstock have to rise to justify a conversion? When should Bahamasir call the bond? e