Amram Inc Can Issue a 20-Year Bond with a 6% Annual

Amram Inc. can issue a 20-year bond with a 6% annual coupon. This bond is not convertible, is not callable, and has no sinking fund.
Alternatively, Amram could issue a 20-year bond that is convertible into common equity, may be called, and has a sinking fund. Which of the following most accurately describes the coupon rate that Amram would have to pay on the convertible, callable bond?

A) Exactly equal to 6%.
B) It could be less than, equal to, or greater than 6%.
C) Greater than 6%.
D) Exactly equal to 8%.
E) Less than 6%.