Can you explain why it's E, thanks!

Tucson Inc. has 1,000,000 shares of common stock currently outstanding and the company has no other liabilities. The company has issued 10,000 one-year "zero-coupon" convertible bond with a face value of $1,000. Each bond can convert into 50 shares of common stock. At what firm value next year, will it make sense for convertible bondholders to convert their bonds to stocks? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a $10 million b $29 million c \$31 million d $35 million e Both C and D