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The Oak Seed Fund invested $ 1 . 5 0 million in a 3 - year convertible debt issue of the Deltoid Training Company. The

The Oak Seed Fund invested $1.50 million in a 3-year convertible debt issue of the Deltoid Training Company. The convertible debt issue had an accrued interest rate of 6.0% and a conversion discount of 15% on the next round of financing. If the next round of financing happens at the end of 3 years, what is the conversion value of the Oak Seed investment? Express your answer in millions to two decimal places? The correct answer is $2.1, please explain the steps fully.

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