4. (10 points) Given the information below, answer the following questions. A convertible bond has the following features: Principal $1,000 Maturity date 20 years Interest $80 (8% coupon) Call price $1,050 Exercise price $65 a share a. The bond may be converted into how many shares? b. If comparable non-convertible debt offered an annual yield of 12 percent, what would be the value of this bond as debt? 15.385 c. If the stock were selling for $52, what is the value of the bond in terms of stock? Every bond 5.385 shares can be converted and the stock price is $52 d. Would you expect the bond to sell for its value as debt (i.e., the value determined in part b) if the price of the stock were $52? e. If the price of the bond were $960, what are the premiums paid over the bond's value as stock and its value as debt? f. If the price of the stock were $35, what would be the minimum price of the bond? g. What is the probability that the bond will be called if the price of the stock is 52