An investor owns a convertible bond with an $8\%$ annual coupon and a $$1,000$ face value. It matures in ten years and can be exchanged for $45$ shares of ACE stock, which is trading at $$27$ per share. Similar nonconvertible bonds are priced to yield $10\%.$ The minimum value of the convertible bond is closest to:

Select one

A$.$ $$215\mathrm{.}00.$

B$.$ $$877\mathrm{.}11.$

C$.$ $$1,000\mathrm{.}00.$

D$.$ $$1,215\mathrm{.}00.$