I wonder know if I am correct

Question 22 3 pts Consider an 8% (coupon rate) convertible bond that has $100 face value, 4 years to maturity. conversion ratio - 25, and pays interest annually. The market perceives that 4 years from now the shares of the firm are equally likely to be worth $3 and $7. The term structure is assumed to be flat at 9%. Assume that investors delay conversion until after they receive their last coupon. What is the fair price for this convertible bond? 123.33 None is correct 149.89 O 96.76