1. Pat Dodge participated in a round of financing for Corsair Inc. Pat Dodge purchased preferred stock in Corsair Inc. for $1.25 per share. Pat Dodge bought 1,600,000 shares. Three years later, Microsoft acquired the entire Corsair company for $25 million in cash, paying $5.80 per common share. At that time, Pat Dodge's preferred stock had a conversion price of $0.80 per share. Find the amount of money (in dollars) collected by Ms. Dodge from Microsoft and the annual rate of return she earned on this investment. Don't forget to convert the preferred stock to common stock as the first step.