Ryan Home Products issued $430,000 of 8% convertible debentures. Each bond is convertible into 28 shares of common stock at anytime before maturity. The current price of the bonds is $1,180 and the current price of Ryan common is $31.25. The bonds were originally issued at a price of $1,000 (face value) at a time when the stock also sold for $31.25.

(a) What is the conversion ratio?

(b) What is the conversion price?

(c) What is the conversion premium?

(d) What is the conversion value?