Assuming that a company is forecasted to exit at year 5 with revenues of $15M, a valuation multiple of 10x earnings, and a discount rate of 50%, what is the post-money valuation of this firm (in millions, rounded to two decimal places)? Question 3 Assume a firm has 1M shares outstanding and there is no option pool. If a VC has invested $10M at a post-money valuation of $25M, how many shares must be issued to the VC (in millions, rounded to three decimal places)? Question 4 Assume a firm has 1M shares outstanding and there is a 15% option pool. If a VC has invested $10M at a post-money valuation of $25M, how many shares must be issued to the VC (keep answer in millions, rounded to three decimal places)? Question 5 What can help a company have a sustainable competitive advantage, therefore leading to high multiples? Network effects High switching costs Patents All of the above