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How much was the reduction in the bond conversion

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Question - On January 1, 2020, Kabond issued a 3-year bond with conversion feature, 9% P1,000,000 at par. Without the conversion feature, the bonds would have sold for 89. Interest is payable semi-annually every June 30 and December 31. On May 30, 2021 the bonds were retired for P1,030,000. At retirement date, the bonds were selling at 91 without the conversion feature. How much was the reduction in the bond conversion privilege at retirement date?

Reference no: EM132880762

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