You have been hired to value a new 10-year callable, convertible bond. The bond has a 5.6 per cent coupon rate, payable annually. The conversion price is 150, and the equity currently sells for 44.75. The share price is expected to grow at 8 per cent per year. The bond is callable at 1,100 but based on prior experience it will not be called unless the conversion value is 1,200. the required return on this bond is 6 per cent. What value would you assign to this bond?