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Mary has started a media firm with the financial support of her friends and family. A few months after the establishment, she receives a $200,000
Mary has started a media firm with the financial support of her friends and family. A few months after the establishment, she receives a $200,000 check from an angel investor at a post-money valuation of $1 million. After receiving the funding from the angel investor, Marys media firm becomes profitable, and the firm receives a $15 million investment for an$80 million post-money valuation from a venture capital fund. If the angel investor cashes out of its investment at this valuation, what is the angel investors returns? (Show all your work.)
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