1) what does 102 mean in the above paragraph?

2) what makes this bond different from other bonds?

3) who gets to decide whether or not to convert the bond?

4) Determine how much cash was raised? (hint: you do not need to calculate for present value)

5) how do you find imputed interest? what is an equation that you could use to find imputed interest?

please show your thought process to how you could approach imputed interest, thank you!

ACTIVITY 2: On January 1, 2012 Darian Manufacturers issued $100,000,000 of 7% convertible debentures that mature in 10 years. The bonds were issued at 102. The conversion feature allows the holder to convert each $1,000 bond into 10 shares of no par common stock. Darian Manufacturers recently issued nonconvertible, 10 year 7% debentures at 99