Vital Silence Corporation has just issued a 25-year callable, convertible bond with a coupon rate of 5.6 percent and annual coupon payments. The bond has a conversion price of $96.00. The company's stock is selling for $29.70 per share. The owner of the bond will be forced to convert if the bond's conversion value is ever greater than or equal to $1,160. The required return on an otherwise identical nonconvertible bond is 6.6 percent. Assume a par value of $1,000. a. What is the minimum value of the bond? (Do not round Intermedlate calculations and round your answer to 2 declmal places, e.g., 32.16.) b. If the stock price were to grow by 10.6 percent per year forever, how long would it take for the bond's conversion value to exceed $1,160 ? (Do not round Intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)