Vernon Glass Company has $$20$ million in $10$ percent, $$1,000$ par value convertible bonds outstanding. The conversion ratio is $45,$ the stock price is $$16,$ and the bond matures in $20$ years. The bonds are currently selling at a conversion premium of $$45$ over their conversion value.

If the price of the common stock rises to $$22$ on this date next year, what would your rate of return be if you bought a convertible bond today and sold it in one year? Assume on this date next year, the conversion premium has shrunk from $$45$ to $$15.($Hint: Calculate rate of return as $($Future bond price $-$ Current bond price $+$ Interest earnings$)/$ Current bond price$))($Do not round intermediate calculations. Input your answer as a percent rounded to $2$ decimal places.$)$

Answer is complete but not entirely correct.

$\backslash$table$[[$Rate of return,$43\mathrm{.}50,\%$