You have purchased a convertible bond for $1,054.40. It is convertible into 50 shares of the firm's common stock. The current stock price is $14.40 per share. Required: a. What is the market conversion value of the bond? (Round your answer to 2 decimal places.) b. What is the conversion premium? (Round your answer to 2 decimal places.) c. Will you choose to convert the stock now? Yes No