Suppose a company just arranged its first funding round with a VC. The VC is investing $5 million in exchange for Series A convertible preferred shares, based on a $6 million pre-money valuation. There are 14 million common shares currently outstanding (and no other convertible or participating preferred shares outstanding). What percentage of the common stock will the VC effectively own (on an "as converted" or "fully diluted" basis) after this round