Ginny is actively pursuing another business venture as a ticket scalper. She estimates that for a $2 million investment in inventory she can resell her tickets for $6 million over the next two years (cash flows realized in exactly two years). Assume the same 6% interest rate.

(i) What is the NPV of the Ticket Brokering venture?

(ii) What is the new value of Ginny's Corporation?

(iii) Suppose Ginny does not have the $2million to start the new venture. Instead, she wants to raise equity capital by issuing 100,000 shares. What price will new investors be willing to pay?