Suppose that First Meriam decides that Marvins shares are worth only $0.85 each. The common stock and the number of shareholders are as follows: Extract Common stock 1,000,000 Number of Shareholders 10 a. How many shares will Marvin need to sell to raise the additional $1.7 million? (Enter your answer in whole number not in millions.)

b. What fraction of the firm will Marvins managers own after the VC investment? (Enter your answer as a percent rounded to 2 decimal places.)