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Assume that Home and Office City Inc. provided the following comparative data concerning long-term debt in the notes to its 2020 annual report (amounts in
Assume that Home and Office City Inc. provided the following comparative data concerning long-term debt in the notes to its 2020 annual report (amounts in millions): December December 31, 2020 31, 2019 3 Convertible Subordinated Notes, due October 1, 2021; converted into shares of common stock of the Company at a conversion price of $15.1991 per share in October 2020 $ $1,044 65Senior Notes, due September 15, 2024; interest payable semiannually on March 15 and September 15 beginning in 2020 534 Commercial Paper; weighted average interest rate of 4.8% at January 1, 2019 261 Capital Lease Obligations; payable in varying installments through January 31, 2047 289 241 Installment Notes Payable; interest imputed at rates between 5.2% and 10.08; payable in varying installments through 2038 80 Unsecured Bank Loan; floating interest rate averaging 6.058 in fiscal 2020 and 5.908 in fiscal 2019; payable in August 2022 11 11 Variable-Rate Industrial Revenue Bonds; secured by letters of credit or land; interest rates averaging 2.98 during fiscal 2020 and 3.8% during fiscal 2019; payable in varying installments through 2030 3 9 Total long-term debt $917 $1,614 Less current installments 37 15 Long-term debt, excluding current installments $880 $1,599 18 Required: a. As indicated, Home and Office City's 374% Convertible Subordinated Notes were converted into shares of common stock in October 2020. How many shares of stock were issued in conversion of these notes? (Enter your answer in millions rounded to 2 decimal places.) Shares million
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