Hannon Home Products Inc. recently issued $3.3 million worth of 9 percent convertible debentures. Each convertible bond has a face value of $1,000. Each convertible bond can be converted into 21.8 shares of common stock anytime before maturity. The stock price is $38.45, and the market value of each bond is $1,200. (Do not round intermediate calculations. Round the answers to 2 decimal places. Omit $ sign in your response.)

a. What is the conversion ratio?

Conversion ratio

b. What is the conversion price?

Conversion price $

c. What is the conversion premium?

Conversion premium %

d. What is the conversion value?

Conversion value $

e. If the stock price increases by $3, what is the new conversion value?

Conversion value $