Question: A company issues 2 bonds, a regular bond and a puttable bond (same regular bond but has a put option). The regular bond has quarterly

A company issues 2 bonds, a regular bond and a puttable bond (same regular bond but has a put option). The regular bond has quarterly mode 6% coupon $1,000 par, 10 years to maturity and its price is $1,010. The convertible bond is trading at a higher price of $1,025. What is the value of the option in percent? Enter percent, round to 2 decimal places.

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