Samantha and John continue to converse, and Samantha proposes a term sheet. Samantha still wants to have a 50% rate of return on her $5 million investment and is offering to buy standard preferred shares. John conservatively projects net income of $11 million in year five (five years from now) and knows that comparable companies trade at a P/E ratio of 24x. There is only one round of investment. There are 1,000,000 shares outstanding initially.

a. How much of the company would Samantha need to own in Year 0?

b. How many shares should she purchase?

c. At what price?