Case 7-37 (Algo) Analysis of long-term debt LO7-7, 7-8 Assume that Home and Office City Incorporated provided the following comparative data concerning long-term debt in the notes to its 2023 annual report (amounts in millions): December 31, December 2023 31, 2022 31% Convertible Subordinated Notes, due October 1, 2024; converted into shares of common stock of the Company at a conversion price of $16.5751 per share in October 2023 6%% Senior Notes, due September 15, 2027; interest payable semiannually on March 15 and September 15 beginning in 2023 Commercial Paper; weighted average interest rate of 4.8% at January 1, 2022 Financing Lease Obligations; payable in varying installments through January 31, 2050 Installment Notes Payable; interest imputed at rates between 5.2% and 10.0%; payable in varying installments through 2041 Unsecured Bank Loan; floating interest rate averaging 6.05% in fiscal 2023 and 5.90% in fiscal 2022; payable in August 2025 Variable-Rate Industrial Revenue Bonds; secured by letters of credit or land; interest rates averaging 2.9% during fiscal 2023 and 3.8% during fiscal 2022; payable in varying installments through 2033 Total long-term debt Less current installments Long-term debt, excluding current installments Required: $ 0 $ 1,276 497 0 0 239 272 227 73 44 12 12 12 $ 1,810 4 $ 858 20 16 $ 838 $ 1,794 a. As indicated, Home and Office City's 34% Convertible Subordinated Notes were converted into shares of common stock in October 2023. How many shares of stock were issued in conversion of these notes? b. Regarding the 61% Senior Notes, Home and Office City Incorporated also disclosed that "The Company, at its option, may redeem all or any portion of the Senior Notes by notice to the holder. The Senior Notes are redeemable at a redemption price, plus accrued interest, equal to the greater of (1) 100% of the principal amount of the Senior Notes to be redeemed or (2) the sum of the present values of the remaining scheduled payments of principal and interest on the Senior Notes to maturity." Redeemable fixed-rate notes, such as those described here, are similar to callable term bonds. Thinking of the 61% Senior Notes on this basis, would it have been possible for Home and Office City Incorporated to redeem ("call") these notes for an amount