Skip to main contentChapter 19 ProblemsAnswerSavedHelp opens in a new windowSave & ExitSubmit Item12 0.37 points Time Remaining 2 hours 50 minutes 45 seconds02:50:45 eBookPrintReferencesItem 12 Time Remaining 2 hours 50 minutes 45 seconds02:50:45 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 32. The bonds have a quoted interest rate of 7 percent a year. The firm's common stock is currently selling for $41.30 per share. The current bond price has a conversion premium of $10 over the conversion value. What is the current price of the bond? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. What is the current yield on the bond (annual interest divided by the bond's market price)? Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places. If the common stock price goes down to $23.40 and the conversion premium goes up to $100, what will be the new current yield on the bond? Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places. PrevQuestion 12 of