Use the following to answer questions 28-30. Suppose you own a convertible bond that has a conversion ratio equal to 40. Each convertible bond has a face value equal to $1,000. The current market value of the company's common stock is $30, and the bond is selling for $1,100. Question 28 (2.5 points) If you convert the bond into common stock, how many shares of stock can you receive? 1) 20 shares 2) 30 shares 3) 40 shares 4) 50 shares 5) 100 shares Question 29 (2.5 points) What is the conversion price? MacBook Air DOD F PS * $ 4 % 5 & 7 2 3 6 8 W E R T Y