A company sells for $$40$ million. The company has $$10$ million in debt outstanding. A preferred investor has the option of taking their non$-$participating preference of $$8$ million, or converting their $100,000$ shares into common stock at a ratio of $4$ to $1.$ There are $600,000$ existing common shares in the company already. What are the investor$$s proceeds?

a$.$ $$8\mathrm{.}0$ million

b$.$ $$19\mathrm{.}2$ million

c$.$ $$16\mathrm{.}0$ million

d$.$ $$12\mathrm{.}0$ million