Please post steps if possible! Thank you!

Vista Venture Partners is considering an investment in a start-up firm that has developed a new technology for streaming data. If the venture is successful, Vista estimates they will be able to grow the business to an exit value of $310 million in five years. Vista has agreed to an initial investment of $12.0 million to fund the early-stage development. If Vista has a 20 percent required return, what ownership percentage will they demand in exchange for their investment? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)