please solve ASAP. please solve this problem, thank you in advance. Am i correct so far? I am unsure of the Straight debt value of convertible? Is every one $1,000?$ When answering, please use the exact cell numbers per the screenshots, as it would make it easier to follow along. Thank you so much in advance. Will thumbs up$.$

A B C D E F G H $11$ Build$-$a$-$Model $3/13/20232$ Chapter: $203$ Problem: $9456$ Maggie's Magazines $($MM$)$ has straight nonconvertible bond that currently yield $9\%.$ MM$\text{'}$s stock sells for $$22$ per $7$ share, has an expected constant growth rate of $6\%,$ and has a dividend yield of $4\%.$ MM plans on issuing $8$ convertible bonds that will have a $$1,000$ par value, a coupon rate of $8\%,$ a $20-$year maturity, and a conversion ratio of $32($i$.$e$.,$ each bond could be convertible into $32$ shares of stock$).$ Coupon payments will be made $910$ annually. The bonds will be noncallable for $5$ years, after which they will be callable at a price of $$1,090$; this call $11$ price would decline by $$6$ per year in Year $6$ and each year thereafter. For simplicity, assume that the bonds may $12$ be called or converted only at the end of a year, immediately after the coupon and dividend payments. Management will call the bonds when the bonds' conversion value exceeds $25\%$ of the bonds' par value $($not $13141516$ Inputs: $17$ Straight bond yield $7\%18$ Current stock price $$22\mathrm{.}0019$ Expected growth rate in stock price $7\%20$ Dividend yield $4\%21$ Par value $($and issue price$)$ of convertible bond $$1,000\mathrm{.}0022$ Coupon rate on convertible bond $6\mathrm{.}00\%23$ Maturity of convertible bond $($years$)2024$ Conversion ratio $3225$ Call protection period $($years$)526$ Call price when call protection ends $$1,090\mathrm{.}0027$

$28$ Call price decline per year after protection $$6\mathrm{.}00$ Policy for exceed call: C this p conv er br value. $25\%$

a$.$ For each year, calculate: $(1)$ the anticipated stock price; $(2)$ the anticipated conversion value; $(3)$ the

anticipated straight$-$bond price; and $(4)$ the cash flow to the investor assuming conversion occurs. At what year do

you expect the bonds will be forced into conversion with a call? What is the bond's value in conversion when it

is converted at this time? What is the cash flow to the bondholder when it is converted at this time $($Hint: the cash

flow includes the conversion value and the coupon payment, because the conversion is immediately after the

coupon is paid.$)$