Suppose that First Meriam decides that Marvin$$s shares are worth only $$0\mathrm{.}80$ each. The common stock and the number of shareholders are as follows:

Extract

Common stock $1,000,000$

Number of Shareholders $10$

How many shares will Marvin need to sell to raise the additional $$1$ million?

Note: Enter your answer in whole number not in millions.

What fraction of the firm will Marvin$$s managers own after the venture capital investment?

Note: Enter your answer as a percent rounded to $2$ decimal places.