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Given the following information concerning a convertible bond: - Principal: $1,000 - Coupon: 4 percent - Maturity: 16 years - Call price: $1,060 - Conversion

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Given the following information concerning a convertible bond: - Principal: $1,000 - Coupon: 4 percent - Maturity: 16 years - Call price: $1,060 - Conversion price: $38 (that is, 26 shares) - Market price of the common stock: $33 - Market price of the bond: $1,015 a. What is the current yield of this bond? Round your answer to two decimal places. $ $ $ answer the question. Round your answer to the nearest dollar. g. What is the probability that the corporation will call this bond? Since the price of the stock is | than the exercise price of the bond, the probability of the bond being called is

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