Suppose VCs invested $5.5 million to purchase Series A Convertible Preferred Shares. The Series A shares: - have a 1X liquidation preference (as is standard for convertible preferred) - do NOT participate with common shares on an "as converted" basis after the liquidation preference has been paid - shareholders must either keep their preferred shares or trade them for common shares - are convertible to the equivalent (on an as-converted basis) of 40% of the shares. [Note that you do not need to know the number of shares or the conversion ratio, because you know the ultimate percentage of shares owned on an as-converted basis. Assume that there have been no further share issues, and that the Series A shareholders will choose the option that makes them the most money.] How much will the Series A shareholders get if the company is sold for $11 million? What if it is sold for $18 million? Choose the correct combination of payoffs. \$9.2 million; $12.4 million. \$6.0 million; $8.8 million. \$6.5 million; $8.8 million. \$5.5 milion; \$7.2 million. $4.8 million; $8.0 million. \$8.4 million; $11.6 million. \$6.0 million; $8.0 million. \$6.0 million; $8.0 million. \$4.8 million; $6.0 million. \$5.5 million; $5.5 million. \$5.0 million; \$8.0 million. \$5.6 million; \$8.8 million. \$8.0 million; $10.8 million. \$4.4 million; $7.2 million