Orient Airlines' common stock currently sells for $$31,$ and its $10-$year maturity convertible bond with

$8\mathrm{.}5\%$ coupon rate paid semi$-$annually has a yield to maturity of $12\%.$ Each bond can be converted

into $25$ shares of common stock at any time before five years from now. Assuming its stock price is

expected to grow at $2\%$ every year, show with calculations whether bondholders of this convertible

bond more likely to convert the bond into common stock today? Show your calculations to support

your answers to earn full points