Standard Olive Company of California has a $$1,000$ par value convertible bond outstanding with a coupon rate of $8$ percent and a maturity date of $25$ years. It is rated $Aa,$ and competitive, nonconvertible bonds of the same risk class carry a $10$ percent yield. The conversion ratio is $25.$ Currently the common stock is selling for $$30$ per share on the New York Stock Exchange.

a$.$ What is the conversion price? $($Round your answer to $2$ decimal places.$)$

Answer is complete but not entirely correct.

$\backslash$table$[[$Conversion price,$$0\mathrm{.}00Q$