Question: == Uuestion Help Determining values Convertible bond Eastern Clock Company has an outstanding issue of convertible bonds with a $1,500 par value. These bonds are

== Uuestion Help Determining values Convertible bond Eastern Clock Company has an outstanding issue of convertible bonds with a $1,500 par value. These bonds are convertible into 60 shares of common stock They have a 13% annual coupon interest rate and a 15-year maturity The interest rate on a straight bond of similar risk is currently 11% a. Calculate the straight bond value of the bond b. Calculate the conversion for stock) value of the bond when the market price of the common stock is $23 per share c. What is the least you would expect the bond to sell for, regardless of the common stock price behavior? a. The straight value of the bond is $ (Round to the nearest cent.)

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