hilgers Technology has a convertible bond outstanding, trading at $835. The par value is $1,000, the coupon rate is 9%, and the bond matures in 25 years. The conversion ratio is 20 and the company's common stock is selling for $41 per share.

- What is the conversion value?

- If similar bonds, which are not convertible, are currently yielding 12 percent, what is the pure bond value of this convertible bond?