please show work

3. Three years ago, you founded Mosaic Music Inc. from your college dorm room. So far, your company has gone through three funding rounds: Round Series A Series B Series C Date Feb. 2017 Aug. 2018 Oct. 2019 Investor You Angels Venture capital Number of New Shares Share Price ($) 1,000,000 1.00 1,500,000 2.00 2,000,000 4.00 Suppose now is the start of 2020 and you need to raise additional capital to expand your business. You have decided to take your firm public through an IPO. You would like to issue an additional 6.5 million new shares through this IPO. Assuming that your firm successfully completes its IPO, you forecast that 2020 net income will be $7.5 million. a. What is the post-money valuation for the Series C funding round? b. Your investment banker advises you that the prices of other recent IPOs have been set such that the P/E ratios based on 2020 forecasted earnings average 18. Assuming that your IPO is set at a price that implies a similar multiple, what will your IPO price per share be? c. What percentage of the firm will you own after the IPO