correct phrasing of sentence

Is it correct if I split the original sentence below (in bold) into two and then rephrased as follows?

As I am late, I will take a taxi.
I am late. Therefore, I will take a taxi.

Is 'rephrased' correctly used in the top sentence in bold?

Or should I write as: Is it correct if I split the original sentence in bold into two and then rephrase it as follows?

Many thanks.

As "split" could be parsed either as a present or as an irregular simple past (in Br E, at least, though I'm not sure what happens in Am E), either would be right, though "rephrase" would be more widely accepted.

b