Assume that Almond Milk Company has a $$1,000$ face value bond with a stated coupon rate of $7\mathrm{.}89$

percent that is convertible into its common stock at $$35\mathrm{.}58.$ The bond is selling at $$1,093\mathrm{.}44$ in the market.

The common stock is selling for $$33\mathrm{.}59$ and pays a dividend of $1\mathrm{.}23$ per share. Calculate the payback

premium period.

The answer is supposed to be $4\mathrm{.}45,$ I do not understand how it can be that, I have tried countless equations, please explain.