Mr Daniels is a bondholder and owns a R$5000$ convertible bond. The bond has a conversion rate of $400$ and can be converted into ordinary shares. Mr$.$ Daniels has the choice to receive R$5000$ on the maturity date or to convert his bond to $400$ ordinary shares. What is the lowest price that will benefit Mr Daniels to convert his bond to ordinary shares?

$($a$)$ R$13,50$

$($b$)$ R$11,00$

$($c$)$ R$12,70$

$($d$)$ R$10,90$

Select one:

a$.$

R$11,00$

b$.$

R$12,70$

c$.$

R$13,50$

d$.$

R$10,90$