Suppose we have a Sharma Inc. convertible BB rated bond with the following characteristics. Maturity $20$ years; par value $=$$$1000$; annual coupon of $3\%$ with the first coupon payment received in exactly $12$ months; yield on $BB$ rated bonds is $6\%$; conversion ratio $=35$; current Sharma stock price $=$$$30.$

What is the straight bond value $($the value of the bond if it was not convertible$)$ of the Sharma bond?

$$612\mathrm{.}45$

$$782\mathrm{.}24$

$$655\mathrm{.}90$

$$685\mathrm{.}80$