Convertible loan notes

Hi sir, for the question below, the growth in share price is not given. And so how do i calculate the share price in year 4 , in order to determine if conversion is likely or not ? Also the interest rate on the convertible bond isn't given. So how do i find the market value of the bond ? Qn: Saul co has issued $40 million convertible bonds at $106 per $100 nominal value. The bonds may be converted into ordinary shares in 4 years time at a rate of 12 shares for every $100 of convertible bonds. The ordinary shares are currently trading at a price of $8 per share. What is the conversion premium per underlying share ? Answer : A