Neuman Corporation Convertible Bonds
the Following Data Apply to Neuman

Neuman Corporation Convertible Bonds
The following data apply to Neuman Corporation's convertible bonds:
$\begin{array}{lcc}\text { Maturity: } & \text { 10Stock price: } & \$ 30.00 \\\text { Par value: } & \$ 1,000.00 \text { Conversion price: } & \$ 35.00 \\\text { Annual coupon: } & 5.00 \% \text { Straight-debt yield: } & 8.00 \%\end{array}$
-Refer to the data for the Neuman Corporation's convertible bonds.What is the bond's conversion value?

A) $698.15
B) $734.89
C) $773.57
D) $814.29
E) $857.14