Mr$.$ James Storm is an investment consultant employed at Standard Peak Ltd

$($Standard Peak$).$ Each investment consultant of Standard Peak is allocated their own

portfolio of existing and new clients. Accordingly, Mr James Storm has also been

assigned a portfolio of clients to assist.

The following clients allocated to Mr James Storms currently have queries and require

assistance:

CASE $1$: MRS JANE DOW

Mrs Jane Dow has been offered to purchase non$-$redeemable, non$-$cumulative

convertible preference shares with an issue price of R$85$ per share in Atom Ltd$.$ These

preference shares have a dividend rate of $4\mathrm{.}62\%$ per year, payable quarterly in

advance. The conversion date is $31$ July $2025,$ on which the preference shares may

be converted into ordinary shares of Atom Ltd at a $12\%$ discount to the prevailing

market price of the ordinary shares as on that date. Mrs Jane Dow will be converting

the preference shares to ordinary shares at that time. It is estimated that each ordinary

of Atom Ltd will be trading at R$57$ on $31$ July $2025.$ Furthermore, it is also estimated

that no dividend is to be paid when the second preference share dividend is meant to

be made but that the dividend payment will again resume thereafter. Similar

preference shares to the Atom Ltd preference shares currently have a market yield of

$8\%$ per year. Refer to CASE $1$: MRS JANE DOW. Assist Mr James Storm in determining the

value of each Atom Ltd preference share as on $30$ April $2024$ in order to inform

Mrs Jane Dow what a reasonable price for each preference share will be$,$

should she wish to purchase these preference shares on $30$ Apil $2024.$

Round to two decimals where applicable.