Question 21 1. In June 2021, DMRR Bahrain, a car watch manufacturer issued $1.2 billion in convertible bonds. The bonds have a 1 converted into DMRR common stock at a conversion price of $359.87. Each bond has a face value of $1,000 and when I was trading at $252.54 per share. Answer the following questions and show your workings clearly. a. What is the conversion price? (1 mark) b. What is the amount of conversion premium? (1 mark) c. How much the owner will receive of DMRR's share in case of conversion. (1 mark) d. Whether the DMRR's bond was in the money or out of money. Explain your answer. (2 marks) Question 21 1. In June 2021, DMRR Bahrain, a car watch manufacturer issued $1.2 billion in convertible bonds. The bonds have a 1 converted into DMRR common stock at a conversion price of $359.87. Each bond has a face value of $1,000 and when I was trading at $252.54 per share. Answer the following questions and show your workings clearly. a. What is the conversion price? (1 mark) b. What is the amount of conversion premium? (1 mark) c. How much the owner will receive of DMRR's share in case of conversion. (1 mark) d. Whether the DMRR's bond was in the money or out of money. Explain your answer. (2 marks)