Note: Use the following information to answer questions 13-16. Your investment firm makes a $10m investment in a new venture giving you 20% ownership. If your agreement includes a 1X liquidation preference with a participating preferred 3X cap and the company is acquired for $100million, what is the maximum payout your firm can receive?

• A. $30million
• B. $20million
• C. $28million
• D. $18million
• E. none of the above