Price a convertible bond with par=$1000, conversion ratio=19, annual coupon rate=9.3%, and 2 years to maturity. The bond is callable at 101% par in year 1, and convertible from year 1 through maturity.

Assume annual compounding, a constant one-year discount rate of 10%, and the following binomial model for stock price evolution. Round your answer to 2 decimal places.

t = 0	t = 1	t = 2
		75.73
	59.77
50.51		50.51
	42.78
		31.08