Angie Ghent a local prominent Business Angel has expressed a keen interest in Razor Wire Productions ("RWP"), a large manufacturing of industrial fencing products. Angie estimates that RWP will have after tax earnings of $3.5 million in 2020 (year 1), $4.75 million in 2021, and $9.25 million in 2022 (year 3). In 2022 RWP is expected to have about 8.12 ROA, $12 million in total debt, and approximately $14 million in capital assets. Angie intends to value the firm as of year 2022 (her expected timeframe for exiting the investment) and is using an earnings multiple of 9 times. Angie's required rate of return is 60%. The US tax rate is expected to remain constant at 21% for foreseeable future. Ralph Smithson owns RWP. Ralph is the sole owner and has 1.75 million shares of stock. If Angie invests $4 million into the RWP what percentage ownership of RWP should Angie receive in return?