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Suppose that First Menam decides that Marvins shares are worth only 0.80 eachine common stock and the number of shareholders are as follows: Extract Common
Suppose that First Menam decides that Marvins shares are worth only 0.80 eachine common stock and the number of shareholders are as follows: Extract Common stock Number of Shareholders 1,000,000 10 a. How many shares will Marvin need to sell to raise the additional $1.8 million? (Enter your answer in whole number not in millions.) Answer is complete and correct. Number of shares 2,250,000 b. What fraction of the firm will Marvin's managers own after the VC investment? (Enter your answer as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. Percentage of the firm Marvin's managers will own after the VC investment 5.54 X %
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