Question 8 (1 point) Doug owns a convertible bond that matures in five years. The bond has a 8.25 percent coupon and pays interest annually. The face value of the bond is $1,000 and the conversion price is $24. The required rate of return on a similar strait bond is 8.25 percent. The current price of the stock is $24. What is the minimum value of this bond? $964.58 $1,000.00 $555.60 $942.11 $950.42