Breuer Investment's convertible bonds have a $1,000 par value and a conversion price of $65 a share. What is the convertible issue's conversion ratio? Round your answer to two decimal places. [ answer in shares] .

Also please answer this as well for full credit, It's about warrants ! Neubert Enterprises recently issued $1,000 par value 15-year bonds with a 7% coupon paid annually and warrants attached. These bonds are currently trading for $1,000. Neubert also has outstanding $1,000 par value 15-year straight debt with a 9% coupon paid annually, also trading for $1,000. What is the implied value of the warrants attached to each bond? Do not round intermediate calculations. Round your answer to the nearest cent.