Hilton Hotels Corp. has a convertible bond issue oustanding. Each bond, with a face value of $1,000, can be converted into common shares at a rate of 61.2983 shares of stock per $1,000 face value bond (the conversion rate), or $16.316 per share. Hilton's common stock is trading at $15.90 per share and the bonds are trading at $975. Calculate the conversion value of each bond? Determind if it's cutternly profitable for bond holders to conver theiri bonds into shares of Hilton Hotel common stock.