Marriot 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 55.863 shares of stock per $1,000 face value bond (the conversion rate). Hiltons common stock is trading (on the NYSE) at $7.43 per share and the bonds are trading at 103 percent of face value..

By how much is the conversion value of each bond greater than the current bond price