Using the same information from the previous problem, (Tundra Technologies (TT) was founded two years ago with a $100,000 investment for 2.0 million common shares. TT has since had 3 additional rounds of financing (4 rounds including my $100,000 investment). Round 2 was $2.0 for 1 million shares. Round 3 was for $1.5 million for 0.5 million shares and round 4 was $5 million for 2 million shares.) What was the post-money valuation for round 3 financing?

Select one:

a.

$3.60 million

b.

$8.60 million

c.

$8.75 million

d.

$10.50 million

e.

None of the above.