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Case 7.37 (Algo) Analysis of long-term debt LO7.7, 7.8 Assume that Home ond Office City Incorporated provided the following comporative dato concerning long-term debt in the notes to it 2023 onnusl report (omounts in millions): Required: a. As incicoted, Home and Office City's 31/4\% Convertible Subordinated Notes were converted into shares of common stock in Octobe 2023. How mony shores of stock were issued in conversion of these notes? b. Regording the 61/2% Senior Notes, Home and Office City Incorporated also disclosed that "The Company, at its option, may redeem all or any portion of the Senior Notes by notice to the holder. The Senior Notes are redeemable at a redemption price, plus accrued interest, equal to the grester of (1) 100% of the principsl amount of the Senior Notes to be redeemed or (2) the sum of the present values of the remaining scheduled poyments of principal and interest on the Senior Notes to maturity." Redeemable fixed-rate notes, such s those described here, are similar to callable term bonds. Thinking of the 61/2% Senior Notes on this bosis, would it hove been possible for Home and Office City Incorporated to redeem ("coll') these notes for an amount. Answer is not complete. Complete this question by entering your answers in the tabs below. As indicated, Home and Orrice City's 314% Convertible Subordinated Notes were converted into shares of common stock in October 2023. How many shares of stock were issued in conversion of these notes? Note: Enter your answer in millions rounded to 2 decimal places

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