Beck Corp (BC) Has a Convertible Bond Issue Outstanding

Beck Corp. (BC) has a convertible bond issue outstanding. Each $1,000 in bond outstanding can be converted into 20 common shares. BC's non-convertible bonds have a coupon of 4% paid annually and mature in 15 years. BC's common stock is currently trading at $38 a share and its convertible bonds are trading at $1,100.
-BC's convertible bond has a conversion premium of ______.

A) $340
B) $760
C) $1,000
D) $1,100