wered Question 3 0 / 1 pts A convertible bond issued by firm BigRed has a conversion ratio of 20, coupon rate of 6.8% (interest paid annually), maturity of 8 years, yield to maturity of 7.4%, and par value of $1,000. The yield to maturity of a non-convertible bond issued by the same firm is 8.2%. BigRed's stock price is currently $35.98 and the stock pays an annual dividend of $1.71 per share. All rates are annualized assuming periodicity of 1 (i.e. annual compounding). What is the minimum value of BigRed's convertible bond? (If your solution is $4.44 then enter "4.44" as the answer. Precision is 0.01+/- 0.02.) swered Answer 920.15 margin of error +/- 0.02