Price a convertible bond with par=$1000, conversion ratio=20, annual coupon rate=9.1%, and 2 years to maturity. The bond is callable at 103% 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
		73.38
	58.66
48.11		48.11
	41.75
		33.16