Problem 8 (5 points) A convertible bond has a par value of $1,000, but its current market price is $975. The current price of the issuing company's stock is $26, and the conversion ratio is 34 shares. What is the bond's market conversion value and conversion premium? Would it be advisable for the bondholder to convert the stock at this time? Explain. Problem 9 (5 points) A callable bond pays annual interest of $60, has a par value of $1,000, matures in 20 years but is callable in 10 years at a price of $1,100, and has a value today of $1055.84. What is the yield to call on this bond? Problem 10 (2 points) A coupon bond that pays semiannual interest is reported in the Wall Street Journal as having an ask price of 117% of its $1,000 par value. If the last interest payment was made exactly 2 months ago and the coupon rate is 6%, what is the price of the bond? Problem 11 (3 points) A Treasury bond due in 1 year has a yield of 6.3%, while a Treasury bond due in 5 years has a yield of 8.8%. A bond due in 5 years issued by High Country Marketing Corp. has a yield of 9.6%, while a bond due in 1 year issued by High Country Marketing Corp. has a yield of 6.8%. What are the default risk premiums on the 1-year and 5-year bonds issued by High Country Marketing Corp