Question: Homework 5: Chap 13,5419 Help Save & Exits Check my 34 The Olsen Mining Company has been very successful in the last five years. Its

Homework 5: Chap 13,5419 Help Save & Exits Check my 34 The Olsen Mining Company has been very successful in the last five years. Its $1,000 par value convertible bonds have a conversion ratio of 34. The bonds have a quoted interest rate of 8 percent a year. The firm's common stock is currently selling for $43.90 per share. The current bond price has a conversion premium of $10 over the conversion value. a. What is the current price of the bond? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Bond price : b. What is the current yield on the bond annual interest divided by the bond's market price? (Do not round Intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Current yield

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