Question: 18 Problem 18-20 Convertible Bonds (LO2, CFA5) 1 points Ashton Long, a bond analyst, is analyzing a convertible bond. The characteristics of the bond are

18 Problem 18-20 Convertible Bonds (LO2, CFA5) 1 points Ashton Long,

18 Problem 18-20 Convertible Bonds (LO2, CFA5) 1 points Ashton Long, a bond analyst, is analyzing a convertible bond. The characteristics of the bond are given below. eBook Convertible Bond Characteristics Par value $1,000 Annual coupon rate (annual pay) 5% Conversion ratio 27 Market price 108% of par Straight value 99% of par Underlying Stock Characteristics Current market price $ 33 per share Print References Compute the bond's conversion value and conversion price. (Round your conversion price to 2 decimal places.) Conversion value Conversion price

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