The following facts apply to a convertible bond making semiannual payments: Conversion price Coupon rate Par value Yield on nonconvertible debentures of same quality Maturity Market price of stock $ 47/share 8.4% $1,000 9% 20 years 46/share $ What is the minimum price at which the convertible should sell? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Minimum price