Maple Aircraft has issued a convertible subordinated debenture at 5.25% interest due 2020. The conversion price is $67.00 and the debenutre is callable at 103.25% of face value. The market price of the convertible is 88.50% of face value, and the price of the common is $61.50. Assume that the value of the bond in the absence of a conversion feature is about 62.50% of face value. Assume a face value of $1,000.

f. How much is the convertible holder paying for the option to buy one share of common stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Option value = $_______

g. By how much does the common have to rise by 2020 to justify conversion? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Price increase = _____%

h. When should Maple call the debenture? (Enter your answer as a percent rounded to 2 decimal places.) When the price of the bond reaches ___________% of face value.