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Campbell, Inc., has a $1,000 face value convertible bond issuethat is currently selling in the market for $990. Each bond isexchangeable at any time for 24 shares of the company’s stock. Theconvertible bond has a 6.9 percent coupon, payable semiannually.Similar nonconvertible bonds are priced to yield 9 percent. Thebond matures in 10 years. Stock in the company sells for $40 pershare. a-1.What is the conversion ratio?a-2.What is the conversion price? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)a-3.What is the conversion premium? (Do not roundintermediate calculations and enter your answer as a percentrounded to 2 decimal places, e.g., 32.16.)b-1.What is the straight bond value? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)b-2.What is the conversion value? (Do not roundintermediate calculations and round your answer to the nearestwhole dollar, e.g., 32.)c.What would the stock price have to be for the conversion valueand the straight bond value to be equal? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)d.What is the option value of the bond? (Do not roundintermediate calculations and round your answer to 2 decimalplaces, e.g., 32.16.)