In its 10-Q for the quarter ended September 30, 2022. ON Semiconductor Corp disclosed outstanding principal balances of $805 million of 0% Convertible Notes due 2027 and $155 million of 1.625% Convertible Notes due 2023. For the purposes of calculating diluted earnings per share, the dilutive effect of the 1.625% Convertible Notes was included, however the 0% Convertible Notes were excluded. Why did the company exclude the 0% Convertible Notes from its diluted earnings per share calculation? 00 Applying the if-converted assumption, if the bonds were redeemed, the company would receive cash proceeds in excess of the principal amount. Applying the if-converted assumption, the strike price on the 0% Convertible Notes was less than the average stock price for the year. Applying the if-converted assumption, including the 0% Convertible Notes would have increased earnings per share. The 0% stated interest rate implies that the company did not record any interest expense on the bonds Not