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Return to question You have purchased 1 million shares in a restaurant chain venture. At this zero - stage investment, your company's assets are $

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You have purchased 1 million shares in a restaurant chain venture. At this zero-stage investment, your company's assets are $140,000 plus the idea for your new product.
10 Suppose that when you first approach your friendly VC, he decides that your shares are worth only $1.15 each. points
a. How many shares will you need to sell to raise the additional $1,610,000?
Note: Enter your answer in whole numbers, not in millions.
b. What fraction of the firm will you own after the VC investment?
Note: Enter your answer as a percent rounded to 1 decimal place.
Answer is complete but not entirely correct.
\table[[a. Shares,1,400,000
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