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Sara started her business using $200,000 of her own funds, issuing herself 300,000 shares of stock. An angel investor bought an additional 100,000 shares for

Sara started her business using $200,000 of her own funds, issuing herself 300,000 shares of stock. An angel investor bought an additional 100,000 shares for $150,000. She now sells another 400,000 shares of stock to a venture capitalist for $2 million. What percentage of the firm does Simone now own? a) 11% b) 23% c) 38% d) 41%

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