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thumbs up for completing all parts. please help Determining values-Convertible bond Eastern Clock Company has an outstanding issue of convertible bonds with a $1,500 par

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Determining values-Convertible bond Eastern Clock Company has an outstanding issue of convertible bonds with a $1,500 par value These bonds are convertible into 45 shares of common stock They have a 14% annual coupon interest rate and a 23-year maturity. The interest rate on a straight bond of similar risk is currently 12% a. Calculate the straight bond value of the bond b. Calculate the conversion (or stock) value of the bond when the market price of the common stock is $45 per share. c. What is the least you would expect the bond to sell for, regardless of the common stock price behavior? a. The straight value of the bond is $ (Round to the nearest cent) b. The conversion (or stock) value of the bond when the market price of the common stock is $45 per share is $ (Round to the nearest dollar) C. The least you would expect the bond to sell for, regardless of the common stock price behavior is (Round to the nearest cent)

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