Kiwi Co. issued $1,000 par value bonds with a 6% coupon rate, convertible into 20 shares of its common stock. If the market price of the bond is $1,100 and the stock is now at $45 per share and pays a $0.50 per share annual dividend. What is this bonds payback period?

		5.2 years
		3.6 years
		4.0 years
		6.3 years