After owning a maplewood company bond for five years, michelle exercised an option that allowed her to exchange her bond for 20 shares of the company stock. michelle owned . junk bond. b. convertible bond. c. revenue bond. d. callable bond.

convertible bond

Explanation: A convertible bond is the security of fixed-income debt that generates interest payments and can be transformed into a predefined number of common stock or equity stocks.

The transition from the bond to equity stock can be made during the lifetime of the bond during certain times and is usually at the bondholder's authority.

Convertible bonds are a versatile choice for corporations to fund. A convertible bond provides stakeholders a form of hybrid investment that has bond characteristics such as interest payments as well as the ability to own the stock.

the answer is a. $209,000

answer; normative economics;