WIMMP Venture Capital "Where Is My Money" Professional Venture Capital (WIMMP) Made a (WIMMP)

WIMMP Venture Capital
"Where Is My Money" Professional Venture Capital (WIMMP) made a $10 million investment in Bavarian Sausage Technology (BST) 5 years ago and in return received 2.5 million shares of convertible preferred stock that can be converted into 1.5 shares of common stock. After all stock has been converted BST will have 22.5 million shares outstanding. In addition, the company is planning on issuing an additional 5 million shares in an IPO.
-If the value of BST stock is $21.50 at the end of the first trading day,what is the value of WIMMP's investment?

A) $48.375M
B) $80.625M
C) $63.425M
D) $37.557M