In this question do not round your intermediate steps. Round your share answers to the nearest share. Suppose you hold all of the $9.99 million in convertible notes in a start-up (this includes accrued interest). Your note has a $18 million cap and a 20% discount. There are 3 million founders' shares and the option pool contains an additional 3 million shares. A VC is making an A-round investment and requires 25% of the exit value of the firm. (There are no future financing rounds). The VC is investing $11 million and requires a 50% return (annually). The firm will exit in 3 years. a. How many shares do you (the note holder) receive if you convert using the cap? (if your answer is 1 million, record 1,00,000. Round to the nearest share.) b. How many shares does the VC need to secure the required 25% ownership stake? O2,217,550 O 3,110,000 O2,110,000 O 3,217,550