I confused. Need help please..

Mainord corporation issues $100,000 of 10-year, 6% convertible bonds. Each $1,000 bond is convertible into 25 common shares. On the date of the issue, the shares had a market value of $50 per share. What is the instinct value of the conversion feature?

a) $1,000

b) $10,000

c) $25,000

d) $50,000