On $1$ July $2022$ Brown Ltd issues convertible bonds with a face value of $$12,000,000.$ The convertible bonds have a $10-$year term and mature on $30$ June $2032.$ Interest is payable annually in arrears, i$.$e$.,$ on $30$ June each year, and the coupon rate of interest is $6\%$ p$.$a$.$ At around the same point in time, companies with a similar credit rating issue debt security without a conversion option with a coupon rate of $8\%$ p$.$a$.,$ payable annually. Calculate the debt and equity components of the convertible bonds on $1$ July $2022.($Show all your workings and round all amounts to the nearest dollar$)$