uppose VCs invested $4 million to purchase Series A Convertible Preferred hares. The Series A shares: - have a 1X liquidation preference (as is standard for convertible preferrec - do NOT participate with common shares on an "as converted" basis afte the liquidation preference has been paid - shareholders must either keer their preferred shares or trade them for common shares - are convertible to the equivalent (on an as-converted basis) of 30% 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 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 $12 million? What if it is sold for $20 million? Choose the correct combination of payoffs. How much will the Series A shareholders get if the company is sold for $12 million? What if it is sold for $20 million? Choose the correct combination of payoffs. $5.6 million; \$11.2 million. $5.0 million; $6.0 million. $3.6 million; $5.4 million. $4.2 million; $6.0 million. $4.0 million; $5.4 million. $5.0 million; $5.4 million. $6.0 million; $6.0 million. $3.6 million: $6 million. $4.0 million; $6.0 million. $3.3 million: $5.4 million