Convertible bond.

Mercury Tech has a convertible bond outstanding, trading in the marketplace at $$835.$ The par value is $$1,000,$ the

coupon rate is $8$ percent, and the bond matures in $21$ years. The conversion price is $50,$ and the company's common

stock is selling for $56$ per share. Interest is paid annually. Assume interest rates in the market $($yield to maturity$)$ are

$8$ percent.

a$.$ What is the conversion value?

$

Round your answer to the nearest cent

b$.$ What is the pure bond component of this convertible bond?

$

Round your answer to the nearest cent USE EXCEL AND SHOW FORMULA