The conversion feature of a bond permits a $\_\_\_\_\_.$

a$.$ company to convert a high coupon rate bond into a lower coupon rate bond

b$.$ company to trade outstanding bonds with a term deposit in a financial institution

c$.$ company to convert the face value of the bond to the market price of the bond

d$.$ bondholder to exchange his or her bonds for the company's common stock

e$.$ bondholder to redeem a small percentage of the bond every year