8. AB Plc issued K20 million, 10% convertible debt on 1 January, 2018 par. The debt is redeemable at a premium of 10% in 3 years time. The market interest rate on pure debt of this nature without conversions rights would be 15%. Issue costs amounted to 3% of the gross amount received (gross issue proceeds). The debt can be converted to into million ordinary shares on 31 December, 2018 Required Calculate the amount of the net issue proceeds of the convertible debentures attributable to the debt and equity components. (10 Marks)