Sherwood Forest Products has a convertible bond quoted on the NYSE bond market at $90.($Bond quotes represent the percentage of par value. Thus, $70$ represents $$700,80$ represents $$800,$ and so on$.)$ It matures in $10$ years and carries a coupon rate of $5\mathrm{.}50$ percent. The conversion ratio is $25,$ and the common stock is currently selling for $$33$ per share on the NYSE.

a$.$ Compute the conversion premium.

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

Conversion premium

b$.$ At what price does the common stock need to sell for the conversion value to be equal to the current bond price?

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

Stock price