Cheung Zap Inc. just issued seven-year convertible bonds at a par value of 1,000. At any time before maturity, investors have the option to exchange their bonds for shares of Cheung's common stock at a conversion price of61.44.Cheung's convertible bonds pay a 7.68% annual coupon, but if Cheung had issued straight-debt bonds (no conversion), it would have had to pay 12.8% annual interest.Based on the information available, complete the table:ValueConversion ratio of Cheung's bond issue:Pure-debt

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