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Neuman Corporation Convertible Bonds
the Following Data Apply to Neuman

question 4

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Neuman Corporation Convertible Bonds
The following data apply to Neuman Corporation's convertible bonds:
 Maturity:  10Stock price: $30.00 Par value: $1,000.00 Conversion price: $35.00 Annual coupon: 5.00% Straight-debt yield: 8.00%\begin{array}{lcc}\text { Maturity: } & \text { 10Stock price: } & \$ 30.00 \\\text { Par value: } & \$ 1,000.00 \text { Conversion price: } & \$ 35.00 \\\text { Annual coupon: } & 5.00 \% \text { Straight-debt yield: } & 8.00 \%\end{array}
-Refer to the data for the Neuman Corporation's convertible bonds.What is the minimum price (or "floor" price) at which the Neuman's bonds should sell?

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