The Olsen Mining Company has been very successful in the last five years. Its $$1,000$ par value convertible bonds have a conversion ratio of $32.$ The bonds have a quoted interest rate of $7$ percent a year. The firm's common stock is currently selling for $$41\mathrm{.}30$ 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?

Note: Do not round intermediate calculations and round your final answer to $2$ decimal places.

$$

b$.$ What is the current yield on the bond $($annual interest divided by the bond's market price$)?$

Note: Do not round intermediate calculations. Input your answer as a percent rounded to $2$ decimal places.

Current yield $\%$

c$.$ If the common stock price goes down to $$23\mathrm{.}40$ and the conversion premium goes up to $$100,$ what will be the new current yield on the bond?

Note: Do not round intermediate calculations. Input your answer as a percent rounded to $2$ decimal places.

New current yield