5) The Founder of the company AZY owns 1,000,000 shares. The Series A investors own 500,000 convertible common shares with a conversion price is $1 per 1 common stock. The Series A investors are protected by a weighted-average anti-dilution protection clause. A series B financing round takes place: 250,000 new convertible preferred shares are issued at the price of $0.50, with a conversion price of $0.50 per common stock. After the anti-dilution clause is enacted, the Series A investors own about _______ % of the firm.

A) 30.11% B) 28.57% C) 32.48% D) 5.21%