What is the bond straight-debt value at the time of issue

Problem:

The following data apply to Saunders Corporation's convertible bonds.

Maturity 10 Stock price $30.00
Par value $1,000 Conversion price $50.00
Annual coupon 7.00% Straight-debt yield 8.00%

What is the bond's straight-debt value at the time of issue?

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Finance Basics: What is the bond straight-debt value at the time of issue
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