Gentherm Incorporated has a convertible bond issue outstanding. Each bond, with a face value of $$1,200,$ can be converted into common shares at a rate of $42\mathrm{.}25$ shares of stock per $$1,200$ face value bond $($the conversion rate$),$ or $$19\mathrm{.}5759$ per share. Gentherms common stock is trading $($on the NYSE$)$ at $$19\mathrm{.}16$ per share and the bonds are trading at $$1,185.$Calculate the conversion value of each bond.Note: Round your answer to $4$ decimal places $($e$.$g$.,32\mathrm{.}1616).$State whether it is currently profitable for bond holders to convert their bonds into shares of Gentherm common stock.