ered Question 2 0 / 1 pts A convertible bond issued by firm Big Red has a conversion ratio of 15.0, coupon rate of 11.6% (interest paid annually), maturity of 15 years, price of $1,146.15, and par value of $1,000. The yield to maturity of a non-convertible bond issued by the same firm is 9.4%. BigRed's stock price is currently $44.90 and the stock pays an annual dividend of $0.74 per share. All rates are annualized assuming periodicity of 1 (i.e. annual compounding). What is the income differential per share of BigRed's convertible bond? (If your solution is $4.44 then enter "4.44" as the answer. Precision is 0.01+/- 0.02.) vered nswer 6.99 margin of error +/-0.02 Income differential per share= (Coupon -CR+Dividend per share)/CR