Vital Silence Corp. has just issued a 30-year callable, convertible bond with an annual coupon rate of 6 percent. The bond has a conversion price of $93. The companys stock is selling for $28 per share. The owner of the bond will be forced to convert if the bonds conversion value is ever greater than or equal to $1,100. The required return on an otherwise identical nonconvertible bond is 7 percent. 1. What is the minimum value of the bond? 2. If the stock price were to grow by 11 percent per year forever, how long would it take for the bonds conversion value to exceed $1,100?