(\$s in millions)

($s in millions) You are the CEO of Itelanet, Inc. an IT start-up that has been in business for 5 years. When the company started (Year O), the Founders invested Two years later (Year 2), Itelanet closed its A Round, raising at a post-money valuation of Now, three years later (Year 5), Itelanet has just closed its B Round raising This investment gives Snowscape Ventures With the B Round in place, Itelanet's cash balance (end of Year 5) is Projected operating cash flows Itelanet now expects to have its first product on the market at the end of year 8 and be acquired at the end of year 10. $2.5 $8.0 $17.8 $20.5 from Snowscape Ventures 67.0% ownership. $25.0 million 6 ($9.0) 7 ($8.5) Year 8 ($7.0) 9 ($8.5) 10 ($9.5) (i) Calculate a financing plan for Itelanet Year 6 to Exit (use only one additional financing C Round to get to Exit) (ii) Why or why not might Itelanet expect a large step up in value for the C Round?