A 7% convertible bond (maturing in 25 years) is convertible into 15 shares of the company's common stock. The bond has a

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A 7% convertible bond (maturing in 25 years) is convertible into
15 shares of the company's common stock. The bond has a par value
of $1,000 and is currently trading at $860; the stock (which pays a
dividend of 81 cents a share) is currently trading in the market at
$45 a share. Use annual compounding of interest. Use this
information to answer these questions.
What is the current yield on the convertible bond? Round your
answer to two decimal places.
%
What is the dividend yield on the company's common stock? Round
your answer to two decimal places.
%
Which provides more current income: the convertible bond or the
common stock?
-Select-Convertible bondCommon stockItem 3
What is the bond's conversion ratio?
What is the conversion value of this issue? Round your answer to
the nearest dollar.
$ Is there any conversion premium in this
issue?
-Select-PremiumDiscountNoneItem 6
If so, how much? Round your answer to the nearest dollar. (Enter
zero, if the answer to previous question is "None". Enter both
premium and discount, if any, as a positive value.)
$
What is the (approximate) yield to maturity on the convertible
bond? Round your answer to two decimal places.