Bissau Ltd$.$ issued $ $4,000,000,5-$year, $8\%$ convertible bonds at par. Bonds pay interest annually. Each $ $1,000$ bond is convertible to $200$ of Bissau's no par value common shares, which are currently trading at $ $25$ each. The current market rate for similar non$-$convertible bonds is $10\%.$ Assuming Bissau adheres to IFRS, the value to be recorded for the conversion option is

Select one:

A$.$$ $100,000.$

B$.$$ $0.$

C$.$$ $303,267.$ How the answer is C$?$

D$.$$ $5,000.$