The following facts apply to a convertible bond making semiannual payments: $55/share 5.6% Conversion price Coupon rate Par value Yield on nonconvertible debentures of same quality Maturity Market price of stock $1,000 6% 20 years $ 54/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