Common Stock at any time at option of holder. a) To help your friend understand the terms of the deal, create a diagram that shows the payoffs to the VC as a function of the firm's future liquidation value. Make sure you label all relevant items in that diagram. b) Your friend also wants to hear some numbers. In particular, he wants you to tell him how much he (the entrepreneur) will receive in two specific liquidation scenarios: A liquidation value of 10 million and a liquidation value of 50 million. c) Once he understands the terms, your friend is very enthusiastic and tells you "wow, the VC thinks that my shares have a total value of $15 million today!" Do you agree with his assessment of the current valuation of common stock?