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Storm Tech has $1,000 convertible bonds with a coupon rate of 10% paid annually, that has 10 years to maturity. The bond is convertible

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Storm Tech has $1,000 convertible bonds with a coupon rate of 10% paid annually, that has 10 years to maturity. The bond is convertible into 30 shares of Storm Tech. The current interest rate on similar bonds without the convertible option is 7.8%. The current stock price of Storm Tech is $45. a. What is the bond's straight-debt value? S What is StormTech bond's conversion value? 5 What is the 'floor price for the Storm Tech bond? $ Activate Windows Go to Settings to activate

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