Jane and Bill Collins have total take-home pay of $4,200 a month. Their monthly expenses total $3,500. Calculate the minimum amount this couple needs to establish an emergency fund. Assume you are in the 35 percent tax bracket and purchase a municipal bond with a yield of 7.25 percent. Use the formula presented n this chapter to calculate the taxable equivalent yield for this investment. (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Assume that you purchased a $1,000 convertible corporate bond. Also assume the bond can be converted to 24.3902 shares of the firm's stock. What is the dollar value that the stock must reach before investors would consider converting to common stock? (Round your answer to the nearest whole dollar amount.) Conversion price Determine the current yield on a corporate bond investment that has a face value of $1,000, pays 11 percent, and has a current price of \$902. (Enter your answer as a percent rounded to 2 decimal places.)