On January 1, 2016 Grader Company issued its 10%, 4 year convertible debt instrument with a face amount of Php 4,ooo,000 for Php 4,400,000. Interest is payable every December 31 of each year. The debt instrument is convertible into 35,000 ordinary shares with a par value of Php 100. When the debt instruments were issued, the prevailing market rate of interest for similar debt without conversion option is 8% (Carry PV factors up to 3 decimal places) Required: 3. How much of the total proceeds represents the equity component? 4. What is the balance of the unamortized premium on debt instrument as of December 31, 2016?. THANKYOU ANSWER WHAT IS REQUIRED