Portman has $1,000,000$ shares outstanding, and Judy Davis, an investor, holds $15,000$ shares at the current price as just found. Suppose Portman is

considering issuing $125,000$ new shares at a price of $$18\mathrm{.}20$ per share. If the new shares are sold to outside investors, by how much will Judy's

investment in Portman be diluted on a per$-$share basis?

$$0\mathrm{.}76$ per share

$$0\mathrm{.}44$ per share

$$0\mathrm{.}36$ per share

$$0\mathrm{.}31$ per share

Thus, Judy's investment will be diluted, and Judy will experience a total

of