hi pls answer

On January 1, 2022, Trotter Company issued its 10%, 5-year convertible debt instrument with a face amount of P10,000,000 for P10,000,000. Interest is payable every December 31 of each year. The debt instrument is convertible into 90,000 ordinary shares with a par value of P100. When the debt instruments were issued, they were selling at 97% without conversion option. Trotter Company incurred P80,000 transaction costs on the issue of the debt instruments. How much of the net proceeds represent the debt component