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Determining values Convertible bond Eastern Clock Company has an outstanding issue of convertible bonds with a $500 par value. These bonds are convertible into 35 shares of common stock. They have a 11% annual coupon interest rate and a 13-year maturity. The interest rate on a straight bond of similar risk is currently 8%. a. Calculate the straight bond value of the bond. b. Calculate the conversion (or stock) value of the bond when the market price of the common stock is $30 per share. c. What is the least you would expect the bond to sell for, regardless of the common stock price behavior? a. The straight value of the bond is 5 (Round to the nearest cent) b. The conversion (or stock) value of the bond when the market price of the common stock is $30 per share is S . (Round to the nearest dollar.) c. The least you would expect the bond to sell for, regardless of the common stock price behavior is $ (Round to the nearest cent.)