Ted Ltd issues 100,000 $2 convertible notes. The notes pay interest at 5% per annum. The market rate for similar debt without the conversion option is 7%. Each note is not redeemable, but it converts at the option of the holder into however many shares that will have a value of $2. Required: Determine whether Ted Ltd has a financial liability or equity instrument, and calculate the amount of any financial liability or equity instrument in accordance with AASB 132 Financial Instruments: Presentation. Give reasons to support your answer. 13 marke