in. On the basis that the company made no new issue of shares during the year ended 31 December 20X4 but on that date it had in issue RM1,500,000 10% convertible loan stock 20X6 - 20X9. This loan stock will be converted into ordinary shares as follows: 20X6 90 RM1.00 shares for RM100 nominal values loan stock 20X7 85 RM1.00 shares for RM100 nominal values loan stock 20X8 80 RM1.00 shares for RM100 nominal values loan stock 20x9 75 RM1.00 shares for RM100 nominal values loan stock Assume where appropriate that the income tax rate is 30% (7 marks) in. On the basis that the company made no new issue of shares during the year ended 31 December 20X4 but on that date it had in issue RM1,500,000 10% convertible loan stock 20X6 - 20X9. This loan stock will be converted into ordinary shares as follows: 20X6 90 RM1.00 shares for RM100 nominal values loan stock 20X7 85 RM1.00 shares for RM100 nominal values loan stock 20X8 80 RM1.00 shares for RM100 nominal values loan stock 20x9 75 RM1.00 shares for RM100 nominal values loan stock Assume where appropriate that the income tax rate is 30% (7 marks)