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7. A convertible bond was issued 7 years ago and pays $50 semiannual coupon; YTM=9.4%....

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7. A convertible bond was issued 7 years ago and pays $50 semiannual coupon; YTM=9.4%. The bonds are convertible into shares of the firm's common stock at $40 per share. The share price now is $46. What is the conversion value? A. $777.99 I B. $880.22 C. $1,030.27 D. $1,150 E. $1,000.00

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