A feed stream containing pure species $L$ flows into a reactor, where $L$ is partly converted to $M$ as shown in the figure.

The mass flow rate of the recycle stream is $20\%$ of that of the product stream. The overall conversion of $L$ (based on mass units) in the process is $30 \%$. Assuming steady state operation, the one-pass conversion of $L$ (based on mass units) through the reactor is

1. $34.2 \%$
2. $30\%$
3. $26.3 \%$
4. $23.8 \%$