Conversion of a Convertible Security Can Occur in Two Ways

Conversion of a convertible security can occur in two ways. Which of the following is (are) correct?
I. It can be a voluntary conversion at specific times prior to the expiration date.
II. It can be a forced conversion at any time prior to the expiration date.

A) Only statement I is correct.
B) Only statement II is correct.
C) Both statements I and II are correct.
D) Neither statement I nor II is correct.

Correct Answer:

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