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An entrepreneur has contributed $500,000 to start a venture. The business grows and needs more equity capital. An investment angle requires 40% of ownership in

An entrepreneur has contributed $500,000 to start a venture. The business grows and needs more equity capital. An investment angle requires 40% of ownership in the company in exchange for a $3 million investment. How much is this venture worth now?

____

A) $10.5 million

B) $7.5 million

C) $8.5 million

D) $3.5 million

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