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Company common stock currently sells

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Connelly, Inc. has 9% conveible bonds that were issued at par, but are now worth $1,100. The bonds can be converted into 30 shares of common stock. The company's common stock currently sells for $37.50. Which of the following statements is correct?

  • Market interest rates have decreased since the bonds were issued.
  • Market interest rates have increased since the bonds were issued.
  • Market interest rates have remained the same since the bonds were issued.
  • Need more information
  • None of the above

Reference no: EM131964047

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