Given the information below, answer the following questions. A convertible bond has the following features: Principal Maturity date Interest Call price Exercise price $1,000 25 years $80 (8% coupon) $1,060 $55 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? c. If the stock were selling for $49.50, what is the value of the bond in terms of stock? LL