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 declines from $25 to $10. What will be the approximate return realized from investing in the convertible bond if an investor had purchased the convertible for $900 and the straight value does not change?

		-0.2222
		-0.6
		-0.5
		-0.1423
		None of the options