Suppose a bank has assets of $600m. There are five items on its balance sheet: loans; reserves; deposits; capital and convertible debt. Its balance sheet has the following characteristics: Ratio of capital to assets = 3 per cent Total loss absorbing capacity (capital and convertible debt) = 8 per cent of assets Ratio ofreserves to assets=20per cent Suppose the bank experiences a loan default eguivalent to 2.5 per cent of its total loans Calculate the following amounts: The initial value of loans before the default $___________ million The size of the loss $___________ million The value of capital after the loan default,before any further action is taken $___________ million Suppose the regulator required the bank to use some convertible debt to restore the level of capital to an amount equal to 2.5 per cent of the original balance sheet. What would be the value of convertible debt after this action has been taken? $___________ million Enter your answers in whole numbers only.Do not use decimal points,symbols or words.