Hilton Hotels Corp. has a convertible bond issue outstanding Each bond, with a face value of $1,000, can be converted into common shares at a rate of 61.2978 shares of stock per $1,000 face value bond (the conversion rate), or $16.3138 per share. Hilton's common stock is trading (on the NYSE) at \$15 per share and the bonds are trading at $1,075. Calculate the conversion value of each bond. $244.7 $1,000 $1,075 $919.5 $1,050