Vista Venture Partners is considering an investment in a start$-$up firm that has developed a new technology for streaming data. If the venture is successful, Vista estimates it will be able to grow the business to an exit value of $$280$ million in five years. Vista has agreed to an initial investment of $$10\mathrm{.}5$ million to fund the early$-$stage development. If Vista has a $35$ percent required return, what ownership percentage will it demand in exchange for its investment?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.

Percentage of exit value

$\%$