Q. In May 2011 French real estate company issued convertible bonds with a total

Q. In May 2011 French real estate company issued convertible bonds with a total face value of 480 million. Each 1000 bond included a conversion option whose fair value was estimated at 13. The average proceeds per 1000 bond was 1028.a. Compute the total bond proceeds.b. Whtat portion of the bond proceeds is accounted for as debt under IFRS?c. Had the company reported under U.S. GAAP what amount of the bond proceeds would be accounted for as debt?