P 16-34 (similar to) Question Help You own a firm, and you want to raise $35 million to fund an expansion. Currently, you own 100% of the firm's equity, and the firm has no debt. To raise the $35 million solely through equity, you will need to sell two-thirds of the firm. However, you would prefer to maintain at least a 50% equity stake in the firm to retain control. a. If you borrow $20 million, what fraction of the equity will you need to sell to raise the remaining $15 million? (Assume perfect capital markets.) b. What is the smallest amount you can borrow to raise the $35 million without giving up control? (Assume perfect capital markets.) a. If you borrow $20 million, what fraction of the equity will you need to sell to raise the remaining $15 million? (Assume perfect capital markets.) If you borrow $20 million, to raise the remaining $15 million you will need to sell % of the equity. (Round to one decimal place.) Enter your answer in the answer box and then click Check