(Answered) Connellynbspinc has 9 conveible bonds that were issued at

Finance

Connelly, Inc. has 9% conveible bonds that were issued at par, but are now worth $1,100. The bonds can be converted into 30 shares of common stock. The company's common stock currently sells for $37.50. Which of the following statements is correct?

Market interest rates have decreased since the bonds were issued.
Market interest rates have increased since the bonds were issued.
Market interest rates have remained the same since the bonds were issued.
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None of the above

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