The firm you founded currently has 12 million shares, of which you own 3 million. You are considering an IPO where you would sell 2 million shares for

$18 each. If all of the shares sold are primary shares, how much will the firm raise? What will be your percentage ownership of the firm after the IPO?

a) If all of the shares sold are primary shares, the firm will raise ______million. (Round to one decimal place.)

b) Your percentage ownership of the firm after the IPO will be ______%.