22.) Which of the following statements is true regardingconvertible bonds?

Select one:

a. The holder has the right to sell these bonds back to theissuer if the bonds don't perform well.

b. The holder can convert these bonds into an equal numberof new bonds if they choose to do so.

c. These bonds have a variable interest rate.

d. These bonds are convertible into common stock of theissuing firm at a prespecified price.

28.) PBJ Corporation issuedbonds on January 1, 2006. The bonds had a coupon rate of 5.5%, withinterest paid semiannually. The face value of the bonds is $1,000and the bonds mature on January 1, 2021. What is the yield tomaturity for an PBJ Corporation bond on January 1, 2006 if themarket price of the bond on that date is $950?

Select one:

a. 10.50%

b. 4.98%

c. 2.49%

d. 8.43%