Green boxes are the given.

Two investors - Joe Common and Kevin Smart invest $5M each into TinderCat startup. However, Joe buys common shares, while Kevin buys convertible preferred shares with 5% annual dividend accrued to the time of exit. Premoney valuation is $40M and founders and stock-option pool was 4M common shares If exit happens in two years, find value of each investor's shares at the time of exit as a function of Two investors - Joe Common and Kevin Smart invest $5M each into TinderCat startup. However, Joe buys common shares, while Kevin buys convertible preferred shares with 5% annual dividend accrued to the time of exit. Premoney valuation is $40M and founders and stock-option pool was 4M common shares If exit happens in two years, find value of each investor's shares at the time of exit as a function of