Steven Long, a bond analyst, is analyzing a convertible bond. The characteristics of the bond are given below. Convertible Bond Characteristics Par value $1,000 Annual coupon rate (annual pay) 5.1% Conversion ratio 28 Market price 112% of par Straight value 99% of par Underlying Stock Characteristics Current market price $ 29 per share 1126 Compute the bonds conversion value and conversion price. (Round your conversion price to 2 decimal places.) Conversion value Conversion price