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Four years ago, Ideal Solutions issued convertible preferred stock with a par value of $100 and a stated dividend of 5 percent. Each share of preferred stock can be converted to four shares of common stock at the option of the investor. When issued, the preferred stock was sold at par value such that Ideal raised $2.5 million to fund expansion of its operations. a) What is the annual dividend per share on the preferred stock? b) What is the conversion price of the preferred stock? When should an investor consider converting into common stock? (Ignore taxes and other costs that might be associated with conversion.) Suppose you own a call option that permits you to purchase 100 shares of the stock of Silicon Graphics for $15 per share any time in the next 3 months. Silicon Graphics has a current market price of $12 per share. Ignore taxes and transaction costs. a) Should you exercise the option and purchase the stock if its price increases to $17? What would be your gain (loss) if you exercised the option and then immediately sold the stock? b) Should you exercise the option and purchase the stock if its price increases to $14? What would be your gain (loss) if you exercised the option and then immediately sold the stock