Consider the convertible bond by Miser Electronics: par value is $1, 000; coupon rate is 8.5%; market price of convertible bond is $900; conversion ratio is 30; estimated straight value of bond is $700. Assume that the price of Miser Electronics common stock is $25 and that the dividend per share is $1 per annum. Now suppose that the price of the common stock increases from $25 to $54. What will be the approximate return realized from investing in the convertible bond if an investor had purchased the convertible for $900?

		a) 0.80
		b) 0.96
		c) 0.40
		d) 0.45
		e) None of the options