Consider the following for CP investors:

(1) Series A: $5M APP (and 2X liquidation preference) or converts to 5M shares

(2) Series B: $10M APP or converts to 8M shares

(3) Series C: $10M APP or converts to 5M shares

(4) Series D: $5M APP or converts to 10M shares

In addition to these investors, the founders hold 10M shares of common.

Question 1). Find the conversion order for these investors (multiple choice)

A. Conversion order: D, A, B, C

B. Conversion order: B, C, A, D

C. Conversion order: B, D, then A and C together

D. Conversion order: D, B, then A and C together

Question 2). Find the conversion conditions for these investors (multiple choice)

A. Wd= 76, Wb= 76, Wa= 76, Wc= 40

B. Wd= 40, Wb= 55, Wa= 76, Wc= 76

C. Wd= 76, Wb= 55, Wa= 55, Wc= 76

D. Wd= 60, Wb= 76, Wa= 34, Wc= 76

Question 3). How much each investor would be paid off at the exit value of $100M? Unit in $Millions (multiple choice)

A. Series A= $13.16, Series B= $21.05, Series C= $13.16, Series D= $26.32

B. Series A= $32.26, Series B= $16.13, Series C= $25.81, Series D= $25.81

C. Series A= $17.86, Series B= $28.57, Series C= $17.86, Series D $35.71

D. Series A= $30.30, Series B= $ 24.24, Series C= $15.15, Series D= $30.30