ValuePet, a pet service venture, is seeking the first-round financing. PetVenture, a professional venture capital firm, is considering to invest $10 million in ValuePet. PetVenture needs to decide to ask for how much percent equity ownership in ValuePet in exchange for this $10 million investment. PetVenture has a target annual rate of return of 30% on ventures at the similar stage of life cycle as ValuePet is currently in. The following table listing the 3 cash flow scenarios for ValuePet when PetVenture expected to exit at the end of 4 years. In order to minimize its investment risk, PetVenture requires an annual $2 million preferred dividend under the utopia scenario (including the exit year) in addition to the $80 million cash inflow in Year 4 (the exit year). No preferred annual cash flows are expected under either the black hole or the living dead scenarios nor are paid to other ValuePet investors. Required: Calculate the required percentage of final ownership of ValuePet that PetVenture would need to earn a 30% annual rate of return on its investment for 4 years