A $1,000 par value bond with an annual coupon rate of 5%, and callable at $1,050, can be converted into 18 shares of common stock. Currently, common stock sells for $55 and the bond sells for $1,020. How much will this bond be worth upon conversion (conversion value)?

Multiple choice

A. $990.

B. $1,020.

C. $1,000.

D. $1,050.

E. $1,055.

F. $950.