A convertible bond that allows for cash redemption prior to maturity is designed to:

a) Allow management to force conversion to common shares if the market price is higher than the conversion price and save future cash repayment.

b) Allow management to redeem the bond early to save on interest expenses.

c) Allow management to force conversion to common shares if the market price is lower than the conversion price.

d) Allows management to pay the cash now on the bonds rather than later