6. The ABC company issued convertible bonds with a total value of $35,000,000 at a coupon rate of 6.5%. Bond holders can convert each bond (par value of $1,000) into 25 shares of stock any time before maturity. a. Is there an option included in this bond? Explain. b. What is the conversion price? Page 1 of 2 c. If the stock price were $47.50 per share would it be profitable for the bondholder to convert? Would there be a profit? If yes, what would the profit amount be