The Olsen Mining Company has been very successful in the last five years. Its $1,000 par value convertible bonds have a conversion ratio of 28. The bonds have a quoted interest rate of 6 percent a year. The firm's common stock is currently selling for $41.80 per share. The current bond price has a conversion premium of $10 over the conversion value. a. What is the current price of the bond? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Bond price b. What is the current yield on the bond (annual interest divided by the bond's market price)? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Current yield