Carlton Inc.s equity value is $25 million with 5 million shares outstanding. Carlton raises an additional $4 million by placing 2 million shares at $2 each to a group of new institutional investors. What is the post % ownership of the new shareholders?

Group of answer choices

(a) 28.57%

(b) 71.43%

(c) 55.55%

(d) 17.24%

(e) None of the above.