23 The following scenario relates to questions 21-25. Sachi Co issued $2m 6% convertible loan notes on 1 April 20X2. The convertible loan notes are redeemable on 31 March 20X5 at par for cash or can be exchanged for equity shares in Sachi Co on that date. Similar loan notes without the conversion option carry an interest rate of 9%. The following table provides information about discount rates: 69% 99% Year 1 0.943 0.917 Year 2 0.890 0.842 Year 3 0.840 0.772 On 1 April 20X3, Sachi Co purchased 50,000 $1 equity shares in Speedi Co at $4 per share, incurring transaction costs of $4,000. The intention is to hold the shares for trading. By 31 March 20X4 the shares are trading at $7 per share. In addition to the gain on investment, Sachi Co also received a dividend from Speedi Co during the year to 31 March 20x4. Q. What amount in respect of the convertible loan notes will be shown under non-current liabilities in Sachi Co's statement of financial position as at 1 April 20X2 (to the nearest $000)? $2,000,000 $1,848,000 $1.544,000 O $2,701,000