The following facts apply to a convertible bond making semiannual payments: $38 / share Conversion price Coupon rate Par value Yield on nonconvertible debentures of same quality Maturity Market price of stock 2.6% 5% $34/share $1,000 30 years a. What is the minimum price at which the convertible should sell? (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Minimum price