a convertible bond pays interest annually at a coupon rate of 5 percent on a par value of $1,000. the bond has 10 years maturity remaining and the discount rate on otherwise identical non-convertible debt is 6.5 percent. the bond is convertible into shares of common stock at a conversion price of $25 per share (i.e. the bond is exchangeable for 40 shares). today's closing stock price was $20. what is the floor value of this bond? group of answer choices $800.00 $892.17 $1,250 none of the options
