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Peppermint Patty in considering buying a convertible bond. The bond has a coupon rate of 7%. In anunt and has a maturity 20 years. The

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Peppermint Patty in considering buying a convertible bond. The bond has a coupon rate of 7%. In anunt and has a maturity 20 years. The bond is convertible at $13.333. The current stock price is $15. At what interest rate is Patty indifferent between holding the asset as a bond and converting? 52% 7% 6.22% 6.97%

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