You Purchase a $1,000 Face Value Convertible Bond for $975

You purchase a $1,000 face value convertible bond for $975. The bond can be converted into 150 shares of stock. The stock is currently priced at $5.25. At what minimum stock price would you be willing to convert?

A) $4.50
B) $5.26
C) $6.50
D) $7.10
E) $7.25