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The firm you founded, Lullaby Inc., currently has 13,880,576 shares outstanding, of which you own 7, 949, 152. You have decided to raise $7,800,000 in

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The firm you founded, Lullaby Inc., currently has 13,880,576 shares outstanding, of which you own 7, 949, 152. You have decided to raise $7,800,000 in fresh capital for the firm via IPO. The IPO price has been set at $30 per share. The company's underwriters charge is 7.5% spread and the ASIC filing fee and associated administrative expenses of the offering are $730, 000. A) If all of the shares are sold by way of a primary offering, how many shares need to be sold? If all of the shares are sold by way of a primary offering, the firm will sell shares. (Round to the nearest integer.) B) What will your percentage ownership of the firm be after the IPO? Your percentage ownership of the firm after the IPO will be %. (Round to two decimal places.)

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