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Suppose that First Meriam decides that Marvin's shares are worth only $0.80 each. The common stock and the number of shareholders are as follows: Extract

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Suppose that First Meriam decides that Marvin's shares are worth only $0.80 each. The 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 million? (Enter your answer in whole number not in millions.) Number of shares 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.) Percentage of the firm Marvin's managers will own after the VC investment %

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