Reynolds Technology has a convertible bond outstanding, trading in the marketplace at $835. The par value is $1,000, the coupon rate is 9 percent, and the bond matures in 25 years. The conversion ratio is 20, and the companys common stock is selling for $41 per share. Interest is paid semiannually.

What is the conversion value?

Note: Do not round intermediate calculations and round your answer to 2 decimal places.

If similar bonds, which are not convertible, are currently yielding 12 percent, what is the pure bond value of this convertible bond? (Use semiannual analysis.) Use Appendix B and Appendix D as an approximate answer, but calculate your final answer using the formula and financial calculator methods.

Note: Do not round intermediate calculations. Round your final answer to 2 decimal places.