The following information applies to the following 6 problems. Florida Enterprises is considering issuing a 10-year convertible bond that will be priced at its $1,000 par value. The bonds have an 8 percent annual coupon rate, and each bond can be converted into 25 shares of common stock. The stock currently sells at $30 a share, has an expected dividend in the coming year of $3, and has an expected constant growth rate of 5.0 percent. Assume that the required rate of return on a similar straight-debt issue is 10.0 percent? What is the convertible's straight debt value? $846.39 B $877.11 $889.31 $901.67 E $921.28 Question 72 What is the implied value of the convertibility feature? A $122.89 B $133.57 $153.61 $167.67 $187.24 1 Point 1 Point