ean Thornton has invested in a convertible bond issued by Cohan Enterprises. The conversion ratio is $20.$ The market price of Cohan common stock is $$60$ per share. The face value is $$1,000.$ The coupon rate is $8$ percent and the annual interest is paid until the maturity date $10$ years from now. Similar nonconvertible bonds are yielding $12$ percent $($YTM$)$ in the marketplace. Calculate the straight bond value of this bond. Use the same data given in problem $14-1.$ Now assume that interest is paid semiannually $($$$40$ every six months$).$ Calculate the straight bond value