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A firm plans to go IPO in 4 years. Its net income is expected to be $2.5 mil. in 4 years. The P/E of similar

A firm plans to go IPO in 4 years. Its net income is expected to be $2.5 mil. in 4 years. The P/E of similar publicly-traded firms is 23. If a PE investor wants to invest $1.5 mil. in the firm today and his required return is 35%, what percentage ownership of the firm would the investor buy? PLEASE USE EXCEL WITH FORMULA SHOWN

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